As fear mounts around the global impact of Zika, one of Wall Street's most closely followed bulls has an ominous message about how the health crisis could impact markets in the weeks to come.
As U.S. health officials move to halt the virus' spread in Miami, where the disease has raged for weeks, markets have been surprisingly placid in the face of the growing health crisis. Based on previous circumstances, however, Canaccord Genuity's chief market strategist told CNBC that could easily turn on a dime.
"When we study 2014, we were dealing with many of the same issues that had yet to cause a correction," Tony Dwyer told CNBC's "Fast Money" this week.
In 2014, the S&P 500 index experienced a sharp and sudden correction, and according to Dwyer, many of the same ingredients that contributed to the turmoil are bubbling beneath the surface of the current rally. Those factors include persistent fears about the Federal Reserve's next policy move, a weak euro zone and falling oil prices.
Two years ago, "the straw that broke the camel's back was the first confirmed case of the Ebola virus in the U.S.," Dwyer said.