Sunday, August 23, 2015

Art Cashin – Prepare For More Downside After This Week’s Stock Market Plunge, Compares Action To 1987 Crash

"On the heels of the Dow plunging more than 530 points, today a legend in the business spoke with King World News about this week’s stock market plunge, the 1987 Crash, and why people need to brace themselves for more downside.

Eric King:  “Art, you warned KWN last week that this global liquidation could turn into a cascade of selling.  It seems to be unfolding exactly as you predicted.  I know you have over 50 years of experience in the markets but how did you know this was going to take place?”
Art Cashin:  “I was surmising how the situation was unfolding — what was beginning to occur in the currencies of the emerging markets and how it would inevitably begin to lead back into our markets.  In fact, I’m a little bit concerned about how the Chinese market closed last night (down over 4 percent)..."

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