As China's economic growth declines, some analysts say Beijing may have to spend more on infrastructure, adding to concerns about high debts.China Economyread more
U.S. President Donald Trump said Tuesday that Washington and Beijing have a long way to go on trade, adding that America could place tariffs on an additional $325 billion...Asia Marketsread more
"The charts, as interpreted by Carley Garner, suggest that the upside in the stock market has gotten more limited," Jim Cramer says.Mad Money with Jim Cramerread more
John Paul Stevens, who served on the Supreme Court for nearly 35 years and became its leading liberal, has died.Politicsread more
The largest U.S. banks are scrutinizing members of the Federal Reserve for any insight into how the central bank will tinker interest rates.Banksread more
The U.S. and China restarted their trade talks, but signs are showing a comprehensive deal could be a long way off, if it happens at all.Marketsread more
The WTO ruling recognized that the United States had proved that China used state-owned enterprises to subsidize and distort its economy. But the U.S. must accept Chinese...World Economyread more
Facebook's cryptocurrency project has already been met with skepticism from policymakers around the world.Technologyread more
Stone, 66, a notorious Republican political operative who has described himself as a "dirty trickster," had previously been dressed down by the judge for his public remarks...Politicsread more
Delta is gathering more data from customers than ever in hopes of avoiding customer service problems and increasing customer satisfaction, its CFO says.At Workread more
The Biden team's second-quarter Federal Election Commission filing shows that the campaign wrote a check of just over $5,300 on June 28 to Sheehan Associates for "strategic...2020 Electionsread more
Markets look "way overpriced" and many investors have put themselves in "dangerous" positions, activist investor Carl Icahn told CNBC on Wednesday.
"The public in my opinion is going to get really hurt," he said on "Fast Money: Halftime Report. " "This market is in very dangerous territory."
Icahn stressed many of the points he made in a video posted this week titled "Danger Ahead." He said stocks could see a tough run amid the Federal Reserve's near-zero interest rate policy and headwinds like financial engineering for the sake of earnings growth.
"I think earnings are misstated and sort of a complete mirage," he said Wednesday.
In the video, Icahn also warns about potential problems caused by tax loopholes, stock buybacks and liquidity in the high-yield bond market. Amid his concerns, Icahn said he has hedged his investments much more.
Icahn stressed, though, that a collapse similar to the one that took place in 2008 seems unlikely.
The billionaire investor has often touted tech giant Apple and criticized the high-yield debt market, which he has long and short interests, respectively. He reiterated previous statements that Wall Street does not fully appreciate Apple and he has considered buying more of the stock.
"I think Apple is still ridiculously underpriced," Icahn said Wednesday.
Icahn also responded to criticism that his dire warnings could benefit his investment positions. He contended that his statements do not always move the markets he discusses.
Despite his pessimistic outlook, Icahn recently raised his stake in battered natural gas company Cheniere Energy to 11.43 percent. He also built up a huge position in crushed mining company, Freeport-McMoRan.
Icahn said buying the stocks at a cheap price provides chances for long-term upside.
"These are great opportunities I think. But here you have to be extremely careful if you're the average investor," he said.
He added that people are "right to expect" that he would push Freeport for structural changes.
Freeport and Cheniere shares had fallen 60 and 31 percent this year, respectively, as of Tuesday's close.
He also touched on Chesapeake Energy, another embattled oil and gas producer that announced Tuesday it would cut 15 percent of its workforce. Icahn, who owns Chesapeake shares, said he did not advocate the move but said it was a symptom of the industry right now.
— CNBC's Scott Wapner contributed to this report