Market Insider: Nouriel Roubini Warns the S&P 500 Could Plunge Another 30% - And the US Economy Faces a Long and Painful Recession
Article by Theron Mohamed in Markets Insider
US stocks could plunge another 30% as the economy endures a painful and protracted recession, Nouriel Roubini has warned.
The economist noted in a recent Fortune interview that the S&P 500 typically dives at least 30% during a recession. If that pattern holds, the benchmark stock index will extend its 21% decline this year, and sink below 3,400 points.
Moreover, Roubini cautioned that an especially harsh economic downturn could send the S&P 500 even lower, to around 2,700 points.
"Even if it was a short and shallow recession, the market should go down by .......
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