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Dow 15,000 is in sight as COVID-19 spreads and Trump loses public's confidence: top strategist
With the Dow Jones Industrial Average having violated the psychologically important 20,000 level on Wednesday amidst another bruising coronavirus fueled crash, some top strategists on Wall Street are sharpening their pencils once again on where the bottom may be for Blue Chip equities.
For Hercules Investments CEO James McDonald — who correctly predicted a major bear market on Yahoo Finance’s network more than a month ago in the early stages of the coronavirus outbreak — he thinks another 30% downside risk to stocks is very possible. Specifically for the Dow, McDonald thinks hitting 15,000 from current levels of just under 20,000 is in sight.
