The trade tensions are likely to get a lot worse because we have never in modern times had a trade war like this,” Minerd said. A fall to at least its December low for the S&P 500 (SPX) would represent a decline of roughly 16% from its current level, for the Dow Jones Industrial Average (DJIA) a drop to last year's nadir would mark a more than 13% skid, and for the Nasdaq Composite Index (COMP) a more than 18% tumble based on Thursday's trading levels. Check out: MarketWatch's snapshot of the market Minerd said that by the end of next week, if not sooner, the market will find a near-term bottom but then his proprietary trading models indicate that a downturn is more likely than not.
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