Europe Economy

Charts: Worst Correction Yet to Come

CNBC.com
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The stock market is heading for a downward correction in September or October more severe than any since the credit crisis took hold, Robin Griffiths, technical strategist from Cazenove Capital, told CNBC Monday.

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Charts: Worse Stock Correction Coming

“We are going to get a correction worse than what we have seen, quite a bit worse actually,” Griffiths said while taking a technical look at the FTSE-100.

“The market has come up in a V shape anticipating the economy will do that. The V is in the stock market, not the economy,” he added.

Griffiths said that the stock market is currently in a quiet period and might drift higher during the summer. But when investors come back from their summer breaks in September, October, it could bring a sharp downward correction, he said.

- Watch the full interview with Robin Griffiths above.

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