JPMorgan Traders Shift to Cautious Stance on Stocks Following Fed Official's Hawkish Remarks

JPMorgan's trading desk has shifted from a bullish to a "tactically cautious" stance on US stocks following hawkish comments by Federal Reserve Chairman Kevin Warsh. The remarks prompted markets to increase their expectations for interest rate hikes in the coming year, prompting the reassessment of near-term equity market positioning.