Dow Jones in the USA has been 32% since the beginning of the year; The S&P 500 Index lost more than 28%. This decline in the US stock exchanges is thought to be largely due to the Kovid-19 outbreak.
Anthony Scaramucci, the former communications director of the White House and known for his nickname The Mooch in the financial world, thinks that this decline will continue in the coming months.
Beter from 2008
The coronavirus outbreak has adversely affected cryptocurrencies, global markets, gold and silver markets and many more. Some experts believe that the markets will recover in the next few weeks, but Scaramucci believes the effects of the outbreak will be longer.
According to the views of Scaramucci, it may see an upward movement in the US stock markets in the near future. According to Scaramucci, this mobility will result from the incentive package prepared by Congress. However, stock markets will start to decline later. Scaramucci, who says that we are in a “long-term bear market” now, expects “another 10-15% decrease” in the stock markets.
Stressing how serious the current economic developments are, Scaramucci states that this is even worse than the financial crisis in 2008:
I am telling people that this is much worse than the global financial crisis in 2008. As if the September 11th Attack and the 2008 financial crisis were happening at the same time… “
Stating that we are going through a difficult process, Scaramucci thinks that the effects of the epidemic may continue until the end of the year. It is a matter of curiosity how the crypto market will be affected if the decline in the global markets continues for a few more months.