Wells Fargo Analyst: Prepare for a Possible Double-Digit Drop in Stocks

by Mac Slavo

Wells Fargo is warning that within the next couple of months, we could see the stocks drop by double digits. Chris Harvey, the head of equity strategy at Wells Fargo Securities, said that everything has been going positively right now, and that’s not necessarily a good thing.

“There’s a lot of things to like. Rates are lower, credit spreads are tighter, the Fed has been accommodative, we’ve got some sort of resolution with trade and tariff and sentiment has improved greatly,” Harvey explained to Bloomberg in a recent podcast. “And that’s what we don’t like.” When everything begins to go in the right direction, expectations are pushed even higher and that’s when investors should start to be concerned.

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