Mohamed A. El-Erian , Columnist

Ten Things Investors Should Know About Markets

Be prepared for higher levels of volatility.

March 20, 2018 at 6:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

Fear of a backlash.
Photographer: Loic Venance/AFP/Getty Images

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As the Nasdaq endures its longest string of daily losses since November 2016, and with other stock indexes also under pressure, there is a notable sense of unease among investors who believed until recently that selloffs were very limited in duration, of small magnitude, and quickly reversible. Now, markets suddenly seem less confident about their ability to shrug off political factors. They also appear more vulnerable to contagion from company-specific news such as Facebook’s apparent entanglement in questionable political-messaging practices.

There are also significant realignments that result in these 10 issues: