Nouriel Roubini an accomplished economist, dubbed "Dr. Doom" for his grim diagnoses and predictions, stated in a Fortune interview that the S&P 500 has decreased by at least 30% during a recession.
Due to this pattern, it could sink below 3,400 points. Mr. Roubini also mentioned that a grave economic downturn could send the S&P 500 even lower, to around 2,700 points.
He also cites rate hikes and political instability around the world as reasons for his bearish outlook.
Despite this, more investors are choosing to pivot by investing in gold.
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