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Home Nasdaq

Market Strategist Advises Selling US Stocks Now to Avoid Over 20% Decline in S&P 500

The Megalodon by The Megalodon
April 17, 2023
in Nasdaq, NYSE
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Market Strategist Advises Selling US Stocks Now to Avoid Over 20% Decline in S&P 500
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The S&P 500 index is predicted to experience a sharp decline of about 22%, leading investors to exit the stock rally immediately, according to Troy Gayeski, the chief market strategist at FS Investments. Gayeski suggested that investors use the bear market rally as an opportunity to de-risk their investments in anticipation of significant losses over the next six to 12 months. Although the benchmark index has gained approximately 8% so far this year, fueled by the hope that the Federal Reserve will end interest-rate increases soon, Gayeski, along with other market experts, including Jeremy Grantham and Mike Wilson, anticipate a downturn in the market.

Wilson, in particular, warned of a potential earnings recession and the aftermath of banking tremors that could lead to a decline of over 20% in the S&P 500 later this year. Gayeski urged investors not to wait and start selling their holdings now.

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