Finance

If Congress doesn’t act on coronavirus, BTIG says S&P could fall 20%

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BTIG’s Julian Emanuel warns stocks could lose another fifth of their value.

If Congress doesn’t immediately pass a coronavirus aid package designed to help the U.S. economy, he warns it’ll spark more damage to an already battered market.

“We’re in this situation where politics seems to be getting in the way,” the firm’s chief equity and derivatives strategist told CNBC’s “Trading Nation” on Monday. “The politicians are playing with fire… If you wait long enough, you risk changing psychology incrementally more, and we all know between Monday and Friday, if anything, news in terms of the virus is likely to worsen.”

On Sunday, the stimulus package failed its first procedural vote. It failed…



Source cnbc.com

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