Market sentiment has hit the floor because investors are so disappointed by the response of policymakers so far, he said.
"Paradoxically, this growing bear market is exactly what is needed to force action from fiscal and monetary authorities," Savary said, adding that this increases the likelihood of large fiscal packages which provide a sharp rebound in the context of "bombed out" sentiment, though the "durability of the rebound remains tenuous."Some are seeing the historic sell-off as an opportunity to capitalize on low stock valuations.
Jeff Henriksen, CEO of Thorpe Abbotts Capital, told CNBC on Friday that he had been buying all of this week, based on a long-term "value-oriented" approach. Thorpe Abbots' base case is that while the economy will take a sharp hit, the impact will be temporary unless there is a "huge credit crunch," though Henriksen suggested that monetary and fiscal policymakers will have to do more in the coming days and weeks.
"It is a special kind of fear that is really gripping people right now, and I think it is creating dislocations in markets that we look at," he told CNBC's "Squawk Box Europe."
Can we please stop with Mohamed El Erian? He's like the Grim Reaper or something!!
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5 things to know before the stock market opens Friday the 13thDow futures, reversing overnight losses, were pointing to bounce at Friday's open after Wall Street suffered its worst session since the 'Black Monday' stock market crash in 1987. Spoiler alert: 1 -- We're fucked Why did anyone think Trump's presidency would fare any better than one of his casinos?
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Dow plunges 1,465 points into bear market as WHO declares pandemic, impatient investors await stimulus package | Markets InsiderUS stocks have slid as investors mulled the timeline for the White House's stimulus measures in response to the coronavirus outbreak. Losses accelerated after the WHO declared coronavirus a pandemic. WHO The VERY LAST thing I want is a social security or medicare payroll tax cut. Don't want to lose social security/medicare or have to work another quarter to get it. WHO Trump needs to up the bribe. Probably tonight.
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Cramer on coronavirus-driven turmoil: Stocks to hold and 'still not too late to own some gold'CNBC's Jim Cramer said Wednesday that there are few stocks worth holding in the coronavirus-driven market volatility. most people aren't going to own gold until it's at $2,000/oz, just getting started in the 3rd leg of this bull market. Go ahead Sal from Jersey Cramer yous got my mother in Enron, now she listening to you to buy stocks, Cramer she has only one leg to stand on. Please dont take that away.. Love you, Man
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S&P 500 and Dow: How coronavirus is hurting stocksAs coronavirus spreads through the global economy, CNNBusiness is tracking the stocks, sectors and indicators most impacted, in real-time. Follow along: Business Business Is it really any surprise that Trumpdemic is potus during the worst StockMarketCrash since blackmonday 1987? Business I was listening to some cuts of your talking heads on the Hannity show, until I coiuldn't take it anymore. First, let me say as a emergency manager, and a public health professional you have no idea what you spewing forth from your station!
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Stock market news live: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictionsUPDATES: Stocks slump, trigger circuit-breaker after Trump declares Europe travel restrictions Stopping the stock market that's cutting into my profit I been betting on the stock market to go down to make my money your cost to me thousands of dollars
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