Billionaire bond king Jeffrey Gundlach says coronavirus-fuelled market sell-off will worsen in April
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Billionaire bond king Jeffrey Gundlach believes the coronavirus sell-off is not over yet and markets may see more losses in April.
Meanwhile, Oaktree Capital's Howard Marks urged investors to be cautious in times of uncertainty such as this and added that his approach "is not black or white, buy or sell". Jeffrey Gundlach said in a webcast to investors on Tuesday that the market is acting "somewhat dys functionally" and that projections from banks that the U.S. economy will recover quickly were highly optimistic,The S&P 500 index collapsed into a bear market this quarter, while losing 12.
The Wall Street bond king believes the March lows will be eclipsed in April when continued economic uncertainty could further rile investors. "I think we are going to get something that resembles that panicky feeling again during the month of April,"Gundlach believes that the market will get back to a better place, but it's "just not going to bounce back in a V-shape back to January of 2020," Reuters said.
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