BlackRock's Jewell said that the market's profit expectations for U.S. stocks are overly optimistic.

Helen Jewell of BlackRock stated that due to the inflation impact of the Middle East war, the market needs to lower its expectations for corporate profits. "If you look at current earnings forecasts for this year, they are still in the high double-digit range - 15%, 16%, 17%, 18% - so there is room for quite a significant downward adjustment," said Jewell, who serves as Chief Investment Officer of Fundamental Equities International at the world's largest asset management company, BlackRock, in an interview.