Possible S&P 500 crash: Market expert fearing stocks slumping
Krinsky, BTIG’s chief market technician is of the opinion that S&P 500 and its dependent stocks could witness a 5% slump in a matte of weeks, something that could indeed take some time to recover amid all the uncertainty surrounding the US stock markets. With the US elections ongoing, there are worries about the market seeing a big crash based on the heightened political uncertainty among Donald Trump and Kamala Harris. The US stock market, for now, needs to hold tight and brace for impact if a major hit is indeed to rock them.
Is US dollar leading the stock market into crisis?
With the country looming into a major dollar crisis, based on the previous financial markets stats, according to a previous ET report, Krinsky is also asserting a similar claim that the volatile moves in the US dollar could be a triggering factor and a catalyst for a pullback.
However, Kirksky is also optimistic about the current market trends amid the election, as the election months, especially November and December are usually not very good months for stock market business, but this time things are going very well at Wall Street, with the market currently in a good position.
FAQs:
Is the US dollar falling?
The US dollar is in a complex position at the moment, with a projected of a downward trajectory at this point, with very less chances of recovering within a short time.
Are the US stock markets in recession?
Even though there is major uncertainty in the US stock markets, mostly due to the upcoming US elections, Wall Street is currently not undergoing a recession.
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