New Delhi, July 21 -- NEW YORK - Jamie Dimon, the chairman and chief executive of JPMorgan Chase, said Monday he would not purchase stocks or United States Treasury bonds at current price levels, warning that financial markets are underestimating a range of risks that could disrupt the global economic outlook.

Dimon made the remarks during a conference call with journalists to discuss the bank's second-quarter results, a record quarter in which JPMorgan earned $18.5 billion in net income. He said he is personally positioned to avoid both equities and fixed income, even as the bank's trading desks benefit from elevated market volatility.

"I wouldn't buy stocks or bonds today," Dimon said, according to a transcript of the call. The remark...