Donald Trump Is Scaring Investors

Oaktree's Howard Marks said the upcoming presidential election and Donald Trump are scaring investors, according to an interview on Bloomberg TV. He also said now the people are dealing with "cosmic issues" that they don't have experience dealing with. Commenting on the recent market volatility, Marks said: "I think that volatility is normal, fits of volatility…The last six weeks in the stock market have been one of those moments of terror. But it's normal. The reasons are not quite normal." He said people are dealing with a "kind of cosmic issues" such as China, oil, rates and terrorism that they don't have any experience dealing with. On how the presidential election is impacting markets, Marks said: "They're scaring the hell out of people." Of Trump he added: "Donald says, the Chinese are killing us. The Mexicans are killing us. The Japanese are killing us. But we're going to get the jobs back. And I think that people tend to believe him…The others compete to be equally fearful and dramatic."