US stock market could end up dropping 20%-30% when the bottom is finally reached

from CNBC,

Economist Mohamed El-Erian said the U.S. stock market may drop 30% from last month’s record highs before finding a bottom. “This is going to be treacherous for a while,” the chief economic advisor at Allianz said. “I would advise most retail investors to stay on the sidelines, not panic. There will be opportunities but they’re not now,” he said.

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