A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim.
AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim.
"But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession."
Ibrahim isn't alone in calling a recession and a steep plunge in the stock market.
Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.
Persons:
Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't
Organizations:
Wall Street, Service, Bloomberg
Locations:
Friday's, China, Europe