Boy, this is over…' Economist Harry Dent predicts 98% crash in Nvidia, 92% drop in Nasdaq. Here's why

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Nvidia's recent performance, which saw its shares surpass $1,000 after a 10-for-1 stock split, marking an all-time high.Also Read | Wall Street’s favorite recession indicator is in a slump of its own"In 1925 to ‘29, it was a natural bubble. There was no stimulus behind that, artificial stimulus per se. So this is new.

This has never happened," Dent stated during Tuesday's interview, citing past market collapses.He elaborated, "What do you do if you want to cure a hangover? You drink more. And that’s what they’ve been doing," and added, "Flooding the economy with extra money forever might actually enhance the overall economy long-term. But we’ll only see when we see this bubble burst."Also Read | Why the recession still isn’t hereDent further explained, "And again, this bubble has been going 14 years.

Instead of most bubbles [going] five to six, it’s been stretched higher, longer. So you’d have to expect a bigger crash than we got in 2008 to ’09."Reflecting on the recent performance of leading stocks like Nvidia, Dent warned that the positive trend will not last. "I think we’re going to see the S&P go down 86% from the top, and the Nasdaq 92%.