Harry Dent, the outspoken financial author and economist, isn’t reversing course from his bold "crash of a lifetime" declaration this past December. Speaking in an updated interview with Fox News Digital, Dent cautioned that the "everything" bubble has still yet to burst, and it may be a bigger crash than the Great Recession. "In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new.
As markets inch closer to the halfway mark of the year, U.S. stocks ended the month of May with gains as the tech-heavy Nasdaq stole the show, finishing up 6.9%. The S&P 500 was up 4.8% and the Dow Jones was up 2.3%. Nearly two weeks ago, tech and A.I.-heavy Nvidia announced a 10-for-1 stock split, propelling shares past $1,000 three days later, marking an all-time high. "I think we're going to see the S&P go down 86% from the top, and the Nasdaq 92%.