Former JPMorgan Chase star strategist remains pessimistic, expects the S&P 500 index may face a thousand-point drop

Zhitong
2025.02.03 15:41

Since Marko Kolanovic suddenly left JPMorgan Chase last summer, causing a stir on Wall Street, many things have happened. The Federal Reserve cut interest rates for the first time in four years. Donald Trump won the U.S. presidency. The S&P 500 index rose another 9%. His former colleagues have also abandoned bearish views. However, for this star strategist, not much has changed. When he left JPMorgan Chase last year, he was one of the few strategists still holding a pessimistic view on this bull market. He believes that U.S. stocks face numerous risks—from high concentration to geopolitical turmoil—such that they still face the risk of a significant decline. The S&P 500 index is currently above 6,000 points, having reached a new high two weeks ago, but Kolanovic expects that the index could face a drop of 1,000 points or more

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