Dimon joined a host of executives and officials making dire predictions about the consequences of failing to raise or suspend the debt limit.
said Thursday that markets will be gripped by panic as the U.S. approaches a possible default on its sovereign debt.
"The closer you get to it, you will have panic" in the form of stock market volatility and upheaval in Treasuries, he said. But "it's a really bad idea, because panic becomes something that is not good," he added. "It could affect other markets around the world."in assets, has been preparing for the risk of an American default, said Dimon.
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