Dow Plummets Once Again as Strategist on CNBC Warns: ‘The Worst is Yet to Come’
The Dow Jones is once again taking a bath on this Christmas Eve — and some analysts are warning that the market hasn’t yet reached its bottom.
Appearing on CNBC’s Squawk Box, Mark Jolley — global strategist at the brokerage firm CCB International Securities — expressed a view that wasn’t so much glass half-empty as it was paper cup with holes.
“I think the worst is yet to come next year,” Jolley said. “We’re still, I think, in the first half of a global equity bear market with more to come next year.”
As of this writing, the Dow is hovering around 22,100 — a drop of roughly 350 points so far on the day. The latest market tumble has President Donald Trump tweeting. Once again, he’s pointing the finger at the Fed.
“The only problem our economy has is the Fed,” Trump wrote. “They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”
If Jolley’s analysis is to be believed, that golfer is not only plagued on the greens. He’s lost his ball in the woods.
Watch above, via CNBC.
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