Jamie Dimon, who is the chair and chief executive of the giant Wall Street bank JPMorgan Chase, said he was “far more worried than others” about a serious market correction, which he predicted could come in the next six months to two years.

“I would give it a higher probability than I think is probably priced in the market and by others,” he told the BBC. “So if the market’s pricing in 10%, I would say it is more like 30%.”

Dimon added there were a “lot of things out there” creating an atmosphere of uncertainty, pointing to risks including the geopolitical environment, fiscal spending and the remilitarisation of the world.

“All these things cause a lot of issues that we don’t know how to answer,” he said. “So I say the level of uncertainty should be higher in most people’s minds than what I would call normal.”

The comments are the latest in a string of warnings that stock markets may be due a correction.