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Canaccord Genuity's Tony Dwyer on why he withdrew his S&P 500 price target

Last week, the Fed said it would let inflation run above its average long-run target of 2 percent before raising interest rates. In response Tony Dwyer, the chief market strategist of Canaccord Genuity, withdrew his S&P 500 12-month price target. "Now I have a Fed that's telling us that we're going to have zero interest rates for years, maybe for a very very long time. I don't know what kind of multiple to put on an infinity Fed," Dwyer said. He joins 'Closing Bell' to discuss why made the move.
06:35
Fri, Sep 4 20204:46 PM EDT

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