JP Morgan boss Jamie Dimon even expects interest rates to rise to 8 percent or more. Hopes of several interest rate cuts this year had driven US stock markets to record highs.

Dimon is particularly concerned about the US government's continued high spending as well as military build-up and the expansion of green infrastructure in the US. The 68-year-old has headed JP Morgan since 2004 and is now one of the most powerful and best-paid bank bosses in the USA. mg.