He has 30 years on Wall Street and predicts a brutal drop: “They don’t understand what’s coming”
At the same time that the Federal Reserve implemented aggressive increases in the interest rate, directors of the most important financial and banking entities in the world accompanied the prospects that a recession is increasingly likely.
Indeed, Christian Sewing, CEO of Deutsche Bank, said inflation has “enormous disruptive potential” and increases the risks of a global recession next year.
In the same sense, different referents such as Savita Subramanian of Bank of America, Mike Wilson of Morgan Stanley and Solomon Tadesse of Société Générale, who estimated that the S&P 500 would find a bottom in the range between 3,000 and 3,100.
The index currently stands at 3,820.