Jamie Dimon warns of major ‘turbulence’ hitting US stocks driven by tariff inflation. How to ‘crashproof’ your nest egg

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President Donald Trump’s tariffs proceed to thrust marketplace uncertainty portion boosting the terms of home and imported goods, and whitethorn further measurement down a beleaguered U.S. market, according to JPMorgan’s yearly stakeholder letter.

“The caller tariffs volition apt summation ostentation and are causing galore to see a greater probability of a recession,” Jamie Dimon, who serves arsenic JPMorgan CEO and chairman, wrote successful a missive to shareholders connected April 7 (1). “And adjacent with the caller diminution successful marketplace values, prices stay comparatively high.”

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His concerns aren’t without merit.

Trump’s tariff policies person battered the banal marketplace — the S&P 500 scale declined by implicit 10% successful April of 2025, formally entering correction territory.

Dimon had supported Trump’s tariffs earlier that twelvemonth successful January, calling them a “little inflationary” yet imperative for nationalist security.

But Dimon sees the U.S. system weakening successful the aftermath of Trump’s tariff announcements, according to that aforesaid shareholder letter.

“The system is facing sizeable turbulence (including geopolitics), with the imaginable positives of taxation betterment and deregulation and the imaginable negatives of tariffs and 'trade wars,' ongoing sticky inflation, precocious fiscal deficits, and inactive alternatively precocious plus prices and volatility,” Dimon acknowledged.

These concerns aren't being near successful the rearview mirror. In JPMorgan's 3rd 4th study released connected Dec. 16, 2025, Dimon wrote: "There continues to beryllium a heightened grade of uncertainty stemming from analyzable geopolitical conditions, tariffs and commercialized uncertainty, elevated plus prices and the hazard of sticky ostentation (2)."

If you stock these concerns, present are 3 ways to assistance support your portfolio.

When markets look shaky, investors often crook to golden — and for bully reason. The precious metallic is seen arsenic a store of value, offering extortion against inflation, economical downturns and banal marketplace volatility.

As marketplace uncertainty mounts, investors often instrumentality screen with precious metals. For instance, golden has climbed astir 35% implicit the past year, hitting implicit $4,500 per ounce successful December (3), portion metallic has posted awesome gains to match.