The U.S. stock market will fall "in a material way" as soon as it's clear Elizabeth Warren will become the Democratic Party's candidate for the 2020 presidential election, said John Studzinski, Pimco's managing director and vice chairman.
Studzinski did not quantify his prediction of a stock market fall, but his forecast differs from most others because it centered on a Warren candidacy — instead of a presidency. Several prominent investors including Leon Cooperman, Marc Lasry and Mark Mobius have projected the stock market to decline by 20% to 30% if Warren is elected president.
Democratic presidential hopeful Massachusetts Senator Elizabeth Warren speaks during the fourth Democratic primary debate of the 2020 presidential campaign season co-hosted by The New York Times and CNN at Otterbein University in Westerville, Ohio on October 15, 2019.
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