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Peter Davis

An writer at FOMOdrive

  • Nov 29, 2023
  • 2 min read

Nouriel Roubini: the “bloodbath” in the markets will continue

Nouriel Roubini has stated that the stock market has not seen any improvement.

A renowned economist cautioned that the markets will continue to suffer a "devastating" decline.

Over the next decade, tens of trillions of dollars could be lost by investors.

It is anticipated by Deutsche Bank and BMO Capital Markets that the S&P 500 will reach new record highs in 2024.

Famous economist Nouriel Roubini, who predicted the 2008 crisis, has stated that the situation on the stock market has not improved since its collapse last year, according to RBC.

Roubini argues that if the technology companies that have been driving the increase in indices were removed, the markets would remain the same. This is due to the hype surrounding artificial intelligence.

Investors have been hoping all year that the Central Banks would reduce their key rates, but this has not come to fruition.

Geopolitical tensions are on the rise around the world due to conflicts in Ukraine, the Middle East, Taiwan, and the Korean Peninsula. Even if these differences do not lead to a full-scale war, fragmentation of the global economy and disruption of global supply chains are unavoidable.

The world is becoming increasingly divided into two distinct economic, monetary, financial, foreign exchange, trade, investment and technological spheres, with neoliberal free trade coming to an end.

Roubini predicted that the economic turmoil is likely to persist, citing that the eurozone and the UK are already in a stagflationary recession, China is in a structural decline, and the US could potentially experience a short-term recession.

It is believed that over the next decade, stock investors globally could suffer losses of tens of trillions of dollars.

Experts are predicting that the S&P 500 will reach a new all-time high of 5,100 by the end of 2024, which is a 12% increase from current levels. Deutsche Bank and BMO Capital Markets are among those forecasting this growth in the stock market.

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