Thursday, 23 March 2017

Wall Street Could Well Correct By Up To 10% In Near Term

A correction is well overdue for US markets after recent run-up we have seen so far in the year 2017, Geoff Lewis, Global Strategist, Capital Markets Group, Manulife Asset Management said in an exclusive interview with CNBC-TV 18 on Thursday.

On the back of strong macroeconomic data, a correction is overdue but relatively mild. It would not extend to 15-20 percent. The maximum downside is around 10 percent,” he said.

What triggered this is the realisation that it is difficult to get the measures through even when the President and the majority parties are on the same side, explains Lewis.

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