Everyone appears to be “rivaling each other to get the headlines and say the most awful things about the world,” says veteran strategist David Roche.
Markets worldwide tumbled in recent weeks as investors worried about a wide range of concerns, such as monetary policy tightening in the West, the impact of China's zero-Covid policy and the ongoing war between Russia and Ukraine.
That comes after major brokers and banks were describing the market downturn earlier in the year as a"small correction," said Roche, former global strategist and head of research at Morgan Stanley. Now, however, everyone appears to be"rivaling each other to get the headlines and say the most awful things about the world."
A"global recession depression" is unlikely to happen, but the world won't think it can avoid one until it does, according to veteran strategist David Roche. "The likelihood is that the world is going to worry most about recession because what you're describing is a lot of things going wrong at the same time, and a lot of them can't be reversed, like war," Roche, president and global strategist at Independent Strategy, told CNBC's"
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