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U.S. stock-market capitalization dropped about $3 trillion, Mike McGlone notes
U.S. stock market volatility, which had been subdued, may be poised for a recovery according to Mike McGlone. He suggests that the current environment has deflationary implications.
McGlone highlights that U.S. stock-market capitalization declined by about $3 trillion year to date as of April 2, representing almost 10% of GDP.
McGlone has previously projected bearish trends in key assets. He suggested in September that WTI crude oil could fall below $50 ahead of the U.S. midterms. In an earlier note, he observed that Bitcoin’s correlation with stocks had broken down, raising the risk of a severe decline for the cryptocurrency.
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