Market analyst Sam Stovall sees ‘at least one more’ big stock drop this year – Health & Fitness Articles

Market analyst Sam Stovall sees ‘at least one more’ big stock drop this year

show chapters

Market analyst Sam Stovall sees 'at least one more' big stock drop this year

Strategist: Volatility is not quite over yet   

The stock market could see at least one more big fall this year, after the S&P 500’s more than 10 percent retreat in early February, veteran strategist Sam Stovall told CNBC on Wednesday.

 

“We need to go down a bit more,” Stovall, chief investment strategist at CRFA, said on “Squawk Alley.” “If we do end up getting back to break even before going deeper than the 10.2 percent decline, I think we have at least one more of these kind of declines this year.”

“Forty percent of all declines of 5 percent or more in one year were followed up by more than one later in that year,” he added.

Leave a Reply

Your email address will not be published.