Finance

Wall Street bull worries eroding confidence will push stocks lower

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One of Wall Street’s biggest bulls is bracing for more wild market swings.

With the S&P 500 and Dow off 4% from their all-time highs, Wells Fargo Securities’ Christopher Harvey is worried fear over ultra-low U.S. rates and negative rates abroad could spark another deep sell-off.

“If you have a loss of confidence with the rate market, that’s going to spill over into equities,” the firm’s head of equity strategy told CNBC’s “Futures Now ” last Thursday. “We really think rates are leading equities at this point in timeā€¦ We think the rate market is exceptionally important at this point in time.”

But Harvey believes it premature to wander into the bear camp.

Harvey’s year-end S&P 500 remains…



Source cnbc.com

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