A market veteran said a bear market and recession are on the way.Thomson Reuters A long-time market veteran anticipates a bear market and recession to hit the US. Jon Wolfenbarger pointed to falling earnings and the inverted yield curve, among other factors. He said the extended duration of the yield-curve inversion suggests a longer recession. Longtime market watcher and strategist Jon Wolfenbarger expects stocks to crater and the US economy to tip into a prolonged recession.
Stocks Look 'highly Vulnerable' And The Economy Is Likely To Enter A Year-long Recession, A 30-year Market Veteran Says
prosen@insider.com (Phil Rosen), Business Insider
Mon, 01/29/2024 - 12:23pm
Topics: magnificent seven thomson reuters longtime bubble conference board's leading economic index great depression jpmorgan treasury the conference board purchasing manager indexes pmis january russell trahan macro researchplus apple amazon tesla microsoft nvidia alphabet meta s&p 500.bull bear profitsin big tech nasdaq amundi european business insider jon wolfenbarger tech bear profits pmis s&p stocks economy recession highly vulnerable market veteran earnings yield curve outlook inverted similar inversion overvalued suggests strategist longer year case falling note share pointed downturn indicators irrational exuberance length coming regional early
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