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“Dr. Doom” Roubini Expects a ‘Long, Ugly’ Recession and Stocks Sinking 40%

  • ‘Dr. Doom’ cites high debt ratios of both firms and nations
  • Global recession throughout 2023 will hit ‘zombie countries’
Nouriel Roubini

Nouriel Roubini

Photographer: Christopher Pike/Bloomberg
Updated on

Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a “long and ugly” recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.

“Even in a plain vanilla recession, the S&P 500 can fall by 30%,” said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview Monday. In “a real hard landing,” which he expects, it could fall 40%.