JPMorgan Warns Iran Conflict Could Push S&P 500 Into a 10% Correction

JPMorgan says a prolonged Iran war could push the S&P 500 into a ~10% correction, potentially to around 6,720, with near-term losses implied by options and oil-supply risks rising; they note a definitive off‑ramp to the conflict would reverse the bearish call. Morgan Stanley remains largely constructive over the next 6–12 months, arguing the rolling correction may be ending and highlighting buying opportunities in cyclicals if oil stays high but not prohibitive.