While markets await a Saudi update, investors are likely asking how the kingdom left itself so vulnerable, and what it means for the future.Energyread more
Of the recessions the U.S. has seen dating back to the early 1980s, none has come without an oil spike of at least 90%.Economyread more
An oil processing facility at Abqaiq and the nearby Khurais oil field was attacked on Saturday.Marketsread more
Energy stocks, one of the worst-performing sector this year, spiked on Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
Shares of defense companies rose on Monday after the United States military was put on alert by President Donald Trump.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.Marketsread more
New research by the Digital Citizens Alliance shows how easy it is to buy illegal steroids and other appearance- and performance-enhancing drugs.Cybersecurityread more
GM shares were down nearly 3% Monday as analysts estimated the strike could cost GM tens of millions of dollars per day. The two sides resumed talks at 10 a.m. Monday...Autosread more
Amazon changed the algorithms that power its product-search system to favor the company's own products, The Wall Street Journal reported.Technologyread more
Between 180 and 200 underperforming GameStop stores are set to shutter before the end of the fiscal year, and more could be on the way.Entertainmentread more
The stock market is trading at unsustainable levels that could eventually lead to a major sell-off, with a possible 40 percent drop in stock prices, hedge fund executive Mark Spitznagel told CNBC Wednesday.
"The simple answer, the mom and pop answer, I think, is just to step aside," said Spitznagel, founder of Universa Investments and an associate of "Black Swan" pioneer Nassim Taleb.
Spitznagel, incidentally, has some Street cred when it comes to predicting downturns: He called it in 2000 and 2008 and made one of the biggest profits on Wall Street during the 2008 financial crisis, while many other investors were losing money.
Appearing on "Closing Bell," Spitznagel suggested the Federal Reserve, which last month reaffirmed its policies on bond purchases and record-low interest rates, is basically propping up stocks and otherwise distorting the market.
"It's a market that is sort of set up, I think, for a major crash, a major sell-off," said Spitznagel. "I would argue all the major tops we've seen in the market over the last 100 years look very much like it does today."
(Read more: Weak jobs report signals longer Fed easing)
"The ultimate causes of crashes is the distorted environment we're in," he continued.
(Read more: Stocks are slumping—but not for reasons you think)
Spitznagel said it would be naïve to pinpoint when a selloff could occur, but guessed it could happen within the next year.
In turn, Spitznagel recommends retail investors step aside and wait for opportunities to come.