lost as much as 3.6% during Wednesday trading and closed at 3,271 — its lowest level since late September. McDonald said the market turmoil isn't over just yet.
"Expectations that COVID-19 would be under control by now have vanished and we see stocks falling by another 10-20% from here," McDonald said."We believe that if the S&P 500 breaks below 3,200 before the election, its next move may be down another 12% to 2,890.
The investment chief's trading strategy led him to profit from the market's volatility at the height of the crash in March. He has been long volatility since then, and told investors it's the only asset class with any clear upside potential at the moment. "Even after today's 20% spike, we believe that volatility has more room to run between now and the election. We see volatility rising even further after the election, the longer we go without a clear result," said McDonald.
He added that"work-from-home" stocks like Zoom and Docusign are solid long-term investments, though the markets are currently displaying"extremely bearish signals" for stocks.The stock market’s fear gauge is hitting fresh highs days ahead of the election as COVID-19 cases surge »
How to end the COVID-19 pandemic StopCovid GreatLockdown
99% of the companies inside and outside the stock market do not have any control of their market, rather they depend on it to survive and if that was not enough, they also do not have a contingency plan to face times of crisis without suffering losses or over-indebtedness .
And Camel Harris in the White House
Anyone expecting to “control” a viral pandemic is kinda idiotic IMO
*50%
Nonsense. We'll have a vaccine after the first of the year.
Not when Trump is named to the WhiteHouse, that day will be 2k point swing.
Yup
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: Reuters - 🏆 2. / 97 Read more »