DoubleLine Gundlach predicts a 20% to 25% fall in S&P 500

Pic Credit: Google

The S&P 500 Index is expected to drop to 3,000, or about 20% to 25% below

Pic Credit: Google

Where it currently stands, according to billionaire investor Jeff Gundlach.

Pic Credit: Google

Gundlach said in a CNBC interview that "The action of the credit market is

Pic Credit: Google

consistent with economic weakness and stock market trouble."

Pic Credit: Google

Despite anticipating a 75 bps rate increase at the Fed's meeting next week,

Pic Credit: Google

Gundlach said, "I think you have to start becoming more bearish."

Pic Credit: Google

Gundlach said on the business network, "I would do 25 basis points."

Pic Credit: Google

The hotter than anticipated Consumer Price Index report data that Wall Street received

Pic Credit: Google

Tuesday morning, Nomura suggested a 100-basis point rate hike in September and a higher terminal rate.

Pic Credit: Google

Gundlach advises buyers to purchase long-term treasuries.

Pic Credit: Google

If you liked this story, don't forget to share it with others.

Pic Credit: Google

Arrow