Veteran fund manager who predicted S&P 500 drop has surprising update
The long-time hedge fund manager reset his stock market outlook.
The inventory market has persevered a like a flash-and-inflamed promote-off that's taken the S&P 500 down over 10%, placing it in contraction territory normally most efficient seen about yearly and a half of.
It's been worse for the tech-heavy Nasdaq 100. Tech stocks were closing 365 days's darlings, and they've fallen bigger than moderate, especially people that loved the very best returns due to booming ardour in artificial intelligence.
The drubbing has taken a stiff toll on many, given most Wall Toll road analysts expected the S&P 500 to notch extra beneficial properties this 365 days following aid-to-aid returns of over 20%, including an spectacular 24% return in 2024.
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