Investment expert warns of rare market scenario that has only occurred three times in more then 100 years
By ALEX HAMMER FOR DAILYMAIL.COM
Millions of Americans will have their retirement and savings destroyed by a looming stock market plunge of some 50 percent, one economist has warned.
Investment influencer Grant Cardone has predicted the stock market is set to fall some 50 percent – wiping out Americans’ retirement funds and savings.
To support his claim, the real estate investor pointed to the ‘yield curve,’ which has been inverted for 500 days, since July 2022.
He noted in a post to X that has only happened three times in the past century, in 1929, 1974, and 2009, and that each time the market fell more than 50 percent.
The stock market also took a tumble just a few years ago in 2020. The S&P 500, a measure of the performance of America’s 500 largest companies, fell almost 30 percent in early 2020 but fully recovered within six months.
Many Americans have savings accounts and 401(K)s containing funds that are invested in the stock market, meaning their worth can closely trace the S&P 500.