Stock Market Crash: At Least 20% Further Downside Ahead, Expert Says

The former head of a $20 billion portfolio warns stocks will fall at least another 20% as investors become complacent about a recession and the Fed vows to keep rates elevated

, a free financial newsletter with 85,000 subscribers, and used to manage a $20 billion portfolio for the Dutch bank ING.

"It looks to me pretty myopic, because markets are choosing to focus on the green shoots that are there. But they are making the base-case pricing very, very la la land," he said."That's how I would define it at this stage." "You'll have this very weird window where it's very clear that a recession has hit and yet Powell will be just doing risk management, which is, 'I'm not going to cut rates because I want to make sure that inflation is coming down.' That will be a very bad period for markets if you ask me," Peccatiello said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow Slips 150 Points Post-Fed; Meta Stock SurgesThe Nasdaq is up 3% midday as tech shares lead a post-Fed rally. Earnings results from Apple, Alphabet and Amazon are due after the bell.
Read more »

5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
Read more »

stock market news today: Meta leads rally in tech sectorUS stocks trade mixed while Facebook parent Meta leads rally in tech sector
Read more »

Tech stock 'meltup' puts Nasdaq-100 on verge of exiting bear marketThe tech-concentrated Nasdaq-100 knocks on the verge of exiting bear-market territory Thursday.
Read more »

Americans prefer to cling to cash after shaken by stock market volatilityLast year’s stock market volatility rattled Americans so much that almost 2 in 3 prefer to have their money sit in cash on the sidelines rather than endure market swings.
Read more »

Stock market news today: Nasdaq surges ahead of mega-cap tech earningsUS stocks trade mixed but Nasdaq surges ahead of fresh mega-cap tech earnings
Read more »