Friday, March 17, 2023
HomestocksJanuary's decline sparks stock correction concerns

January’s decline sparks stock correction concerns

The rough month for stocks—being capped Friday by another sharp decline on Wall Street—is raising concerns about whether the recent selloff is the start of the long-feared correction and whether 2014 is doomed because of the often-accurate January barometer.

Two leading market-watchers told CNBC that the recent downturn won't turn into a true correction, but another analyst predicted a steeper 15 percent decline.

On the optimistic side, JPMorgan chief U.S. equity strategist Tom Lee said in a "Squawk Box" interview that he didn't think a 10 percent correction was likely. "The reason I think we're not going to go down as much as 10 is the high yield market is behaving. And high yield market has led equities."


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