Investors Not Overly Concerned About NKorea’s Terror “Antics”
JPMorgan (NYSE:JPM) CEO Jamie Dimon said NKorea a ‘terrible threat’ but markets should not expect a bad outcome.
Mr. Dimon explained it would be a mistake for investors to rush to rash decisions on concerns of a nuclear war.
“I think there’s a higher chance of something going wrong in the Korean Peninsula, it’s slightly higher than it was before,” he said in a TV interview.
“But I don’t think it’s going to change my view of how we should go around the world and work with each other and grow our economies. It’s just this terrible threat hanging out there,” he said on the sidelines of an investor summit in New Delhi, India.
Mr. Dimon said that he would not “price a crisis” into markets over the NKorea nuclear threat. “I think that would be a mistake,” he said.
“As I pointed out before, geopolitics is always a surprise, sometimes positive, sometimes negative, it always scares you when you read the paper in the morning. But in history of mankind it usually resolves itself. I’m not saying I’m not prepared for a bad outcome, I’m simply saying I wouldn’t expect a bad outcome,” Mr. Dimon said.
For his part, President Donald Trump hit back at North Korea leader Kim Jong Un’s threats Friday morning, responding to the rogue nation’s “Madman” leader with a promise that he “will be tested like never before!”
“Dotard” is a translation of a Korean word, “neukdari,” which is a derogatory reference to an old person.
Kim said President Trump was “unfit to hold the prerogative of supreme command of a country” and “a rogue and a gangster fond of playing with fire.”
Kim’s foreign minister later said NKorea may test a hydrogen bomb in the Pacific Ocean to fulfill Kim’s vow to take the “highest-level” action against the United States.
Have a terrific weekend.