The S&P 500 could nosedive 30% this year as a painful recession takes hold, top economist David Rosenberg says
Prepare for US stocks to plunge, unemployment to jump, and the economy to slump this year, David Rosenberg has warned.
MarketWatch in a recent interview. But they should avoid cryptocurrencies, the veteran economist and president of Rosenberg Research said."There's nothing right now in my collection of metrics telling me that we're anywhere close to a bottom," Rosenberg said, noting that he believes a US recession is only just beginning.
The US central bank is currently tightening its grip. It has hiked interest rates from almost zero to nearly 5% within the past year in response to historic inflation, and expects to lift them even higher in the coming months.
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