Two of Wall Street’s most influential figures took significant financial actions just days before a major market downturn, raising questions about market timing and insider knowledge.

What Happened: JP Morgan CEO Jamie Dimon sold $234 million worth of JPMorgan Chase & Co. (NYSE:JPM) stock on Feb 20, according to U.S. Securities and Exchange Commission filings. The sale involved approximately 866,361 shares at around $269.83 per share through various family trusts and LLCs.

Over the next 18 days following these moves, the Nasdaq 100 crashed 8.83%, with JPM stock falling over 9.63% in the same period.

Dimon’s trades have historically served as leading market indicators. During the pandemic in May 2020, he publicly stated JPM was “very valuable” amid the market panic, with the stock surging 41% higher within three weeks—event traders dubbed the “Dimon Bottom.”

See Also: Bill Ackman Clashes With David Sacks Over Ukraine Strategy, Asks If US Should Let Russia ‘Take The Rest Of Eastern Europe’

Buffett recently characterized tariffs as “an act of war” that functions as a consumer tax. Goldman Sachs Group Inc. has warned that tariffs could reduce corporate earnings by 1-2% for every 5% tariff increase, potentially triggering a 5% S&P 500 decline.

Despite market uncertainty, Buffett maintains his long-term bullishness on American companies, stating, “A majority of any money I manage will always be in the United States.”

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.