Dr. Doom himself sat down with Fortune last week, and he said there are two outcomes for the stock market: bad and miserable.
The S&P 500—an index of the leading publicly traded companies in the U.S.—has been in free fall this year. It officially entered a bear market in June after sinking more than 20% from its previous high set in January. Although it has managed several small rallies since then, investors have warned that stocks overall are still in a downturn, and the bear market likely has months of life left in it. Nouriel Roubini, one of the few who accurately predicted the crash of 2008, told Fortune that stock watchers shouldn’t get their hopes up.
