If you thought this week's drop in stocks was bad, a bear market, or a 20% decline in stocks, is on the horizon, according to Peter Schiff, CEO of Euro Pacific Capital.
Schiff said the "Yellen put" in the markets could expire under President Trump. "I don't know if the Fed has much love for Trump," he said, adding that the Fed had the markets' back during the Obama Administration.
One black swan event Schiff sees as a possibility is the notion of investors abandoning the euphoria over Trump's presidency, which helped fuel the stock market rally this year.
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