Wall St. sinks; Gundlach says U.S. stock are in bear market

[Eugene]

Source: Reuters

BUSINESS NEWS DECEMBER 17, 2018 / 7:48 AM / UPDATED 40 MINUTES AGO

Wall St. sinks; Gundlach says U.S. stock are in bear market

Amy Caren Daniel
4 MIN READ

(Reuters) - Wall Street slid 1 percent on Monday, weighed down by retailers and health stocks and after DoubleLine’s Jeffrey Gundlach said U.S. equities are in a long-term bear market and that the Federal Reserve should not raise rates this week.

Gundlach, Chief Executive Officer of DoubleLine Capital and known on Wall Street as the Bond King, in comments made on CNBC also said that passive investing had reached “mania status” and will exacerbate market problems.

The comments pushed U.S. equities back to session lows and killed off an attempted recovery.

“He (Gundlach) is not exactly painting a sunny picture for 2019,” said Kim Forrest, senior portfolio manager at Fort Pitt Capital Group in Pittsburgh.

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Read more: https://www.reuters.com/article/us-usa-stocks/wall-st-sinks-gundlach-says-u-s-stock-are-in-bear-market-idUSKBN1OG1G0

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Related: DoubleLine's Gundlach says U.S. equities are in long-term bear market (Reuters)

[Wellstone ruled]

1. Buddy you are late to the meeting.

This started in October. Well,better late than never.

[progree]

2. "The comments pushed U.S. equities back to session lows and killed off an attempted recovery."

Oh yeah, sure. Just like the rooster taking credit for the dawn.