US Stock Market | JPMorgan sees 10% correction in S&P 500

JPMorgan's trading desk is tactically bearish on US stocks, warning of a potential 10% S&P 500 correction due to the ongoing Iran conflict. Traders are unprepared for this drop, with positioning currently neutral. Oil prices surged above $100 a barrel, raising stagflation concerns, though these risks could subside if the conflict is short-lived.