The founder and CEO of Investment Agency Doubleline Capital Jeffrey Gundlach leans Bearish at the US stock market in the midst of imposing import tariffs up to 50% through the world’s largest economy.
In a new CNBC interview, Gundlach out It sees the S&P 500 stock index falling by approximately 14% of the current level.
“So I think investors should stay on defensive mode. We are certainly positioned for that. And the extent to which investors have cash money, I would continue to do so until we get a little more a persistent soil. As I said before, I am looking for 4,500 on the SP [500 index]. “
According to the billionaire investor who has earned the nickname ‘Bond King’ because of his success in the bond market after the financial crisis of 2008, market uncertainty is caused by imposing import rates in the US for the near future as a rapid resolution unlikely.
“People spoke about rates [getting] delayed. There is no way to happen. I think [US President Donald] Trump will maintain this.
And I do not understand exactly how he calculates or the administration calculates this strange formula to set these rates. It doesn’t seem to me much mathematically. But at least it’s a formula. Whether it is logical or not, it is a formula. Otherwise it will just be completely random.
But he is [Trump] Guess people. And he doesn’t deteriorate. I don’t think so. So this is something that will have to play and we will have to do with this, I would certainly say weeks or months and not just days. “
The S&P 500 index is trade At 5,222 at the time of writing, with more than 10% since the start of the year.
https://www.youtube.com/watch?v=Secoqjnb8HW
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