The world's investment giants have warned JPMorgan CEO Jamie Dimon and BlackRock CEO Jamie Dimon that Israel's war on the Gaza Strip threatens to plunge the global economy into recession, along with other major investors, according to the Israeli business newspaper Globes.

Dimon, chief executive of the world's largest bank, said the post-war effects on Gaza were extremely serious, noting that they would be the most serious since 1938.

Referring to Israel's war on Gaza, Dimon said Russia's war on Ukraine was "very frightening and unexpected" and a war on "the most important thing for the future of the world: freedom, democracy, food, energy and immigration."

The bank's chief executive added that the war could have "far-reaching effects on energy and food prices and international trade."

Larry Fink, who heads the world's largest asset manager, said: "When Russia invaded Ukraine, we said the peace gains were over. Now, as conflict erupts in the Middle East, geopolitical risks threaten the global situation."

Fink noted that fear is growing around the world, leading to a decline in consumption and additional spending, and thus leading to a recession in the long run.

Inflation and interest rate

Returning to Dimon, he explains that although the inflation rate has stabilized recently, he fears that it will already rise again, and then may push again to raise the interest rate in the United States, adding that the interest rate may rise to 6% or 7%, which would make it difficult for several things, the most important of which are real estate and banks, which Fink concluded as well.

Many global specialized bodies expressed their fears of the consequences of the war in the Middle East on the oil market, especially if it expands or prolongs, as the region is responsible for more than a third of the world's oil supply, and the specter of the oil crisis in 1973 is still present in front of them, when the Arab oil-producing countries banned oil globally to pressure Israel to stop its aggression against the Arab countries, which led to the meteoric rise of oil that consequently led to global recession.

For 33 days, the Israeli occupation army has been launching intensive air and artillery raids on the Gaza Strip, which have led to the death of more than 10.5 thousand Palestinians, including 4324 children and 2823 women, and the injury of more than 26 thousand, and the martyrdom of 163 Palestinians, and the arrest of 2215 in the West Bank so far.