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A top JPMorgan Chase executive is warning that stocks could fall as much as 40% in the next few years.Daniel Pinto, JPMorgan's co-president, said during an interview on Bloomberg Television Thursday that he believes market gains should continue for the next year or two. But he added that investors are nervous, and that the recent announcement about tariffs and trade wars contribute to their unease."Markets are going to be nervous, nervous about anything. Nervous about anything that relates to inflation, nervous about anything that relates to growth," he said. "These tariffs, if they go a lot beyond what has been announced, it is something that will concern the markets about future growth."He said it's normal for there to be a correction at the end of an investing cycle, and that markets could be heading for a "deep correction" of between 20% and 40%, depending upon the market values at the time the downturn starts."We know there will be correction at some point," he said.Related: Wall Street is on edge about tariffsThe markets briefly fell into correction territory last month as the the Dow Jones industrial average plummeted more than 3,200 points, or 12%, in just two weeks. The market then rallied from those lows, and the S&P 500 and Dow both ended February up for the year.But so far this month, concerns about a possible trade war and the departure of former Goldman Sachs executive Gary Cohn as President Donald Trump's chief economic adviser roiled markets once again.Related: Trump's tariff bombshell - Catch up herePinto oversees corporate and investment banking at JPMorgan Chase, the nation's largest bank. In January he was promoted to co-president and co-chief operating officer, setting him up as one of the two leading contenders to be the next CEO when Jamie Dimon retires. Dimon has said he intends to stay in place until at least 2023, though.The-CNN-Wire? & ? 2018 Cable News Network, Inc., a Time Warner Company. All rights reserved. 1987
A man wearing what police called a "Halloween costume" with live ammo draped across his chest was detained on the UCF campus on Tuesday. UCF Police responded to a classroom for reports of a suspicious person. When they arrived, they found the man wearing a Halloween costume that included real live ammunition. The man was detained, interviewed and let go after police determined he was just wearing a costume and there was no criminal intent behind his costume.Police say he told them he was dressed as "the Terminator" and he was very forthcoming with the situation, answering all questions asked. During a press conference on Tuesday, police said they only received one call from a third-party about the man wearing the live rounds and that was very alarming to them. They want everyone to say something when they see something questionable. "We were surprised by only one call," said officials. "It may be a costume, it may be more than a costume, but it's our job as a police department to keep this campus safe." 1036
A San Diego Couple is breaking the internet after getting married at a Costco in Mission Valley Thursday. Margot Schein and Julian Parris said they made the decision to get married at Costco because, after meeting on a dating app, they decided to have their first date at the store. According to Schein, the couple decided to wed at Costco on their three-year anniversary. The wedding included a custom-made cake from the store, an archway and pallets to hold up bouquets of flowers. Staff at the store even took the time to set up chairs for the event as well as decorate a portion of the Costco with rose petals. “I feel like we have a whole new Costco family,” Margot said. 710
A new study by the Institute for Health Metrics and Evaluation found in the past 10 years, the number of deaths attributed to alcohol has gone up 35 percent. Among women, alcohol-related deaths soared 85 percent.Ron and June Byrd know the pain of watching a loved one struggle with alcohol. They helplessly watched their daughter, Erika, fight it for years.“It would have to be in all caps: helpless. As a father, I was supposed to be able to fix things. I couldn't fix it,” Ron Byrd says.After becoming partner at her law firm, doctors diagnosed Erika with breast cancer. Her parents say she became depressed, and it made her drinking worse.Rehab didn’t work.“Despite our best effort, her friends’ best efforts, her best efforts, it was to no avail,” says Ron. “And it killed her.”Erika died in 2011 at the age of 42.Her death is part of a disturbing, growing trend.“I just know it's a terrible epidemic,” Ron says. “Alcohol kills you in many ways: suicides, accidents, organ failures, disease.”The study by the Institute for Health Metrics and Evaluation found this spike started during the recession and that growing pressure on working mothers might also play a role.“They are, I think, by in large, ashamed of it. Our daughter was,” Ron says. “They do their best to hide it until they can't.”Erika's parents hope the report helps break the stigma associated with alcoholism and leads to more resources devoted to fighting the problem. 1447
A member of the White House coronavirus task force encouraged people in Michigan on Sunday to "rise up" against closures enacted by the state's governor in the hopes of preventing the spread of COVID-19.On Sunday evening, hours after Michigan Gov. Gretchen Whitmer announced COVID-19 policies that included the suspension of in-person learning at some schools, in-person dining at restaurants and the temporary closure of movie theaters, Dr. Scott Atlas encouraged people to resist the new measures."The only way this stops is if people rise up. You get what you accept," Atlas tweeted. 594