JPMorgan Chase & Co Chief Executive Officer Jamie Dimon warned on Wednesday that a recession is "a likely outcome" from United States President Donald Trump's tariff policies and escalating global trade war.

"I think probably that's a likely outcome, because markets, I mean, when you see a 2,000-point decline [in the Dow Jones Industrial Average], it sort of feeds on itself, doesn't it," Dimon said in an interview with Fox Business Network. Additionally, he noted that he thinks markets "are right" in this situation as "they're just pricing uncertainty [at] the macro level and uncertainty [at] the micro level, at the actual company level, and then how it affects consumer sentiment."

Furthermore, the executive stressed that stock market volatility caused by tariff concerns is "serious," adding that it prompted numerous companies to cancel their initial public offerings (IPOs).