from Zero Hedge
Allianz Chief Economic Advisor Mohamed El-Erian told CNBC’s Sara Eisen that if the “mindset changes from technicals to fundamentals,” then the stock market could take another leg down.
“That is the tug of war that’s going to play out, and it’s going to show the DNA of investors,” he told Eisen on Thursday after main U.S. equity indexes recorded their worst session since June.
If a return to macro event kicks in, or at least a growth scare is seen, Allianz’s chief economist warned stocks could be headed for a deeper correction.