Legendary Bear Marko Kolanovic Explains the Market Slump
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A trader on the floor of the New York Stock Exchange at Friday’s opening bell.
Photographer: Charly Triballeau/AFP/Getty Images
The stock market is plummeting on fears of slower growth and higher inflation from President Donald Trump’s tariffs. Bloomberg News reporter Alexandra Semenova sat down with one of Wall Street’s most notorious bears to assess the damage and discuss the future. Plus: H Mart’s executives aren’t crying, and the makers of Wegovy and Zepbound face booming demand. If this email was forwarded to you, click here to sign up .
Marko Kolanovic offers ample evidence in support of the old quip that pessimists are never wrong, but sometimes they’re early. The former chief market strategist at JPMorgan Chase & Co., whose abrupt exit from the bank last summer shocked analysts and investors, had been one of Wall Street’s most vocal skeptics. His bearish calls proved wrong in 2023 and 2024, but he continued warning of a momentous crash in US equities even as the biggest shops in finance dropped their gloomy predictions.