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Nasdaq Will Fall Into Bear Market, Wharton’s Siegel Says

  • Stocks set for rocky stretch; Nasdaq could fall 20% from peak
  • Fed could raise rates more than four times this year, he adds
Jeremy Siegel 

Jeremy Siegel 

Photographer: Denis Doyle/Bloomberg

A “rocky” stretch for U.S. stocks is far from over, with the tech-heavy Nasdaq indexes poised to fall into bear markets thanks to the Federal Reserve’s newfound zeal to undercut inflation, according to Jeremy Siegel, finance professor at the Wharton School of the University of Pennsylvania. 

The long-time market watcher said he expects more than four interest-rate hikes this year, a risk that “equities are not really priced for.” He sees a 20% decline in the Nasdaq 100 from the November record, implying a more than 7% fall from current levels.