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Why The S&P 500 Could Drop 20%
Description
S&P 500 could fall by as much as 20% in the coming weeks, Tim Hayes, senior strategist at Ned Davis Research, told Business Insider.
"I would expect a decline of 15-20% and then we get a rally that maybe leaves us back where we are around now."
Last week all three major Wall Street indices fell due to a sell-off in big US tech stocks.
Hayes said the valuations are very optimistic.
But he expects stocks to pick up after November once the US election is over.
"I would expect a decline of 15-20% and then we get a rally that maybe leaves us back where we are around now."
Last week all three major Wall Street indices fell due to a sell-off in big US tech stocks.
Hayes said the valuations are very optimistic.
But he expects stocks to pick up after November once the US election is over.
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