JPMorgan’s Kolanovic says ‘correction’ in stocks isn’t over

“The correction likely has further to go,” Kolanovic said. — Bloomberg

NEW YORK: The slide in US equities over the past three weeks was the start of a sell-off that is likely to deepen along with mounting macroeconomic risks, including rising treasury yields, a strong US dollar and elevated oil prices, says JPMorgan Chase & Co’s Marko Kolanovic.

While earnings results from corporate America this week may temporarily stabilise the market, it doesn’t mean stocks are out of the woods, the bank’s chief market strategist said.