Markets · Press release
Joseph Grinkorn: There Could Be a Market Correction on Wall Street, Markets Could Fall up to 20%
Grinkorn warns of a possible correction in which the S&P 500, Nasdaq and Dow could fall by as much as 20%.
Key points
- He cites inflation that stayed high for over a year despite Federal Reserve rate hikes.
- He points to a credit squeeze from higher borrowing costs and weaker-than-expected jobs data.
- He suggests favoring defensive sectors such as utilities and consumer staples, holding some cash for buying opportunities, and considering distressed real estate.
Original release
This is a summary of a press release issued by Morris Group and published by openPR · Getnews on August 20, 2024. Figures are as stated in the original release.
Read the full releaseViews expressed are those of Joseph Grinkorn, are forward-looking, and do not constitute investment advice or an offer to buy or sell any security.
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