Outspoken Wall Street bond whiz says the stock market is acting ‘dysfunctional’ and may hit rock bottom once we take out March’s low
Jeffrey Gundlach on Tuesday said that the worst isn't over for the stock market, after a brutal quarter that left the Dow with its worst decline in the first three months of a calendar year in its 124-year history. Speaking during a webcast, the DoubleLine Capital founder said that the stock market remains “dysfunctional” from his perspective, indicating that the market may put in a more “enduring low,” once the March 23 nadir for stocks is “taken out.” The Dow Jones Industrial Average (DJIA) on March 23 finished at 18,591.93, its lowest close since Nov. 9, 2016, which left it with a pullback of more than 37% from its all-time closing high set in February.
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