U.S. stocks are set for a correction of 5 percent or more this year after the longest stretch in history without one, said Bob Doll, chief equity strategist at $172-billion Nuveen Asset Management.
The length of time without a significant retreat in the market -- the last decline of 3 percent in the S&P 500 was in November 2016 -- means investors will get nervous when stocks start to fall, but strong fundamentals will prevent a full-blown bear market, Doll said Tuesday in an interview at Bloomberg’s Toronto office.
