JPMorgan’s top strategist warns stocks could be about to plummet 20%. ‘I’m not sure how we’re going to avoid’ a recession

Traders work on the floor of the New York Stock Exchange on June 14, 2023 in New York City. One of them looks stressed. (Credit: Spencer Platt—Getty Images)

It’s been a rocky few weeks on Wall Street—but according to JPMorgan’s top strategist, things could be about to get a whole lot worse.

In an interview with CNBC’s “Fast Money” on Thursday, Marko Kolanovic, JPMorgan’s chief market strategist and co-head of global research, said America’s biggest bank is maintaining a “somewhat negative” outlook for stocks.