JPMorgan's Chief Market Strategist Dubravko Lakos stated in an interview with CNBC that if U.S. tariffs remain tense, volatility in risk markets may persist for a longer time. He also mentioned that it is currently uncertain whether the market will hit new lows, and the key will depend on the progress of tariff negotiations.

Moreover, Dubravko Lakos believes that one can opportunistically buy stocks of high-quality companies rather than "value stocks."

JPMorgan has revised its year-end target for the S&P 500 from 6,500 points to 5,200 points under the assumption of maintaining high tariffs. Currently, the S&P 500 is at 5,443 points, and based on this expectation, the actual downside for the S&P 500 from now does not seem significant.

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