The S&P 500 is likely to fall by 20-25 percent over the next three months according to Nomura strategist Bob Janjuah.
 |
|
Getty Images
|
In a research note published on Tuesday, the long-term bear who called the recent rally for U.S. stocks said he expects investors to be back in risk-off mode until the U.S. election is over.
“I now think the correct thing to do — as I also said in April and June — is to prepare for a serious risk-off phase between August and November…over the August to November period I am looking for the S&P 500 [.SPX 1421.68 
3.55 (+0.25%) 
] to trade off down from around 1400…by 20 to 25 percent…to trade at or below the lows of 2011.”
