Fallout from Asia will slow economic growth in the United States and cause continued volatility in the U.S. stock markets this year, the chairman of the American Stock Exchange said.

"This situation in Asia is more than a bump in the road, but not a crater," Richard F. Syron, who is also chief executive officer of the nation's second-largest stock exchange, said Monday at a luncheon of the Institute of International Bankers in New York.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.