Veteran strategist Bill Blain warns, inflation and higher interest rates could drive down stocks by 12%
US stock market's most prized possessions witnessing a near 12% drop in the coming year.
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Will the stock markets undergo a major drop?
Blain, who has been a longtime strategist and has observed the US stock markets quite closely, is of the opinion that the next 12 months are not going to be very easy for the markets, with factors like inflation influencing the outcome of the stock market occasionally. Moreover, Blain is also of the opinion that the US Federal Reserve may not drive down interest rates as low as being expected by the markets, and therefore, the stocks could slide even further after a point.
Moreover, in the case of a credit crunch in the economy, Blain is quite doubtful that the US will be able to do a rescue op like it did during the pandemic, due to concerns about the overall level of debt and its impact on the economy.
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