Sumary of US stocks could tumble 15% in a rough fall – and the bitcoin bubble could deflate further this year, Guggenheim’s Scott Minerd says:
- US stock prices and bond yields could decline further this fall, Scott Minerd told Bloomberg.
- Fears that the delta variant will cause the economy to weaken could see US stocks fall 15%, he said.
- US equities could drop 15% by the end of October, driven lower by concern over the delta variant of COVID-19 and its impact on global growth, while cryptocurrencies could continue to face pressure, according to Guggenheim’s Scott Minerd.
- The chief investment officer told Bloomberg on Wednesday that September and October are likely to be “very rough” months for stocks.
- Stock prices and bond yields recently fell sharply as growth fears sparked by the fast-spreading delta variant dented some of the market optimism.
- He expects Treasury yields to decline by as much as 60 basis points if markets believe the economy will weaken.