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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 passenger aboard a Frontier Flight heading from Denver, Colorado to Charleston, S.C. on Thursday, claims a man allegedly assaulted two women and then urinated on another passenger’s seat.Pictures obtained by KMGH?television station in Denver show the man, who has not been identified, being taken away by police once Frontier Flight 864 landed in Charleston.The pictures provided by the passenger show the man urinating on the seat in front of him and also show him getting escorted by police.A Frontier Airlines spokesperson did not comment on the specific details of the incident when asked for comment, but said they were aware of the situation.“The safety and security of our passengers is our top priority at Frontier. We have been made aware of this situation and are working with the appropriate authorities.” 831
A pedestrian bridge suddenly collapsed onto the road below near Florida International University, crushing cars and killing at least six people Thursday.Hours after the bridge collapsed, officials said early Friday that the rescue mission is now a recovery operation.Emergency crews worked overnight in what Miami-Dade Police spokesman Alvaro Zavaleta called a "very slow process" in order to preserve evidence and the safety of possible victims and rescuers, because of unstable conditions at the bridge.At least nine people were transported to hospitals for treatment, authorities said.Witnesses described hearing a loud boom Thursday and moments later, finding victims, including construction workers across the wreckage and people trapped in cars.Senator Marco Rubio, who visited the site Thursday, posted on Twitter: "The cables that suspend the #Miami bridge had loosened & the engineering firm ordered that they be tightened. They were being tightened when it collapsed today." Rubio has been a visiting professor at the university for the past 10 years.The bridge's main span, which weighs 950 ton, had just been installed Saturday over eight lanes, near the university in Miami. 1205
A new lawsuit filed by the porn star known as Stormy Daniels claims President Donald Trump never signed a hush agreement regarding an alleged sexual encounter between the two and therefore the agreement is void.According to the legal complaint filed in California state court and tweeted out by her lawyer on Tuesday, Trump's personal lawyer, Michael Cohen, signed the document on behalf of the President instead.The porn star, whose real name is Stephanie Clifford, claims in the lawsuit to have had an affair with Trump several years prior to his presidency. However, the lawsuit claims that when he was running for office and multiple women were coming forward to share stories of their own alleged encounters with the then-Republican presidential candidate, Cohen intervened in an attempt to keep Clifford from coming forward as well. 852
A Michigan couple faced discrimination due to their sexual orientation, but because of the state's laws, it’s legal. They’re sharing their story because of a new national campaign called Beyond I Do.The campaign highlights states that are legally allowed to discriminate due to sexual orientation, for things like employment, housing and social services, doctors visits or dining at a restaurant.Jami and Krista Contreras are a couple from Oak Park, Michigan. Three years ago, they became new parents and brought their six-day-old newborn to a local pediatrician, but they were denied care. "Your doctor prayed on it and decided she won't see you all today,” Krista Contreras claims one employee at the doctor's office said.The couple was floored. They said they had personally experienced discrimination for their sexual orientation, but they never though it would directly carry over to their newborn in this way.“We spoke to other people and they would say well they can’t do that… that’s not legal and we looked into it and it was legal,” Jami Contreras said.According to the Beyond I Do campaign, 31 states including Michigan don’t have protections for this kind of discrimination. “It was horrifying and humiliating and we just kept thinking god she's 6 days old and she’s already experiencing discrimination,” said Krista. 1358