Stock traders buckle up — the market is set for as much as a 40% plunge in the next two to three years, essentially wiping out the last two year’s market rally in the US, MarketWatchreports.

That is the warning from JPMorgan co-president Daniel Pinto, who in an interview with Bloomberg Television on Thursday said “we know there will be a correction at some point”. A correction is usually defined by a more than 10% drop from a recent market peak.