Mumbai, May 21 -- The Dow fell 114.83 points or 0.3% to 42,677.24, the Nasdaq slid 72.75 points or 0.4% to 19,142.71 and the S&P 500 declined 23.14 points or 0.4% to 5,940.46.

JPMorgan Chase (JPM) CEO Jamie Dimon warned stock market values may not properly represent the risks of higher inflation and even stagflation. "My own view is people feel pretty good because you haven't seen effective tariffs. The market came down 10%, it's back up 10%. That's an extraordinary amount of complacency." Dimon said during the financial giant's annual investor day meeting on Monday.

Carson Group chief market strategist Ryan Detrick told CNBC the rebound should be taken seriously even amid lingering concerns about trade and the economy. While most of th...