Marc Faber Warns : The S&P 500 could drop to its 2011 low below 1,200

Faber warns that the S&P 500, which fell to 1,881 yesterday, could drop to its 2011 low below 1,200. “According to FactSet data, that would be 1,099.23, set that October. Faber referred to that outcome, a more-than-40% plunge in the broad stock-market benchmark, as his ‘medium bearish’ scenario. His most bearish prognostication envisages the S&P 500 falling back to its 2009 nadir, which FactSet data put at 676.53,” MarketWatch reported.
http://www.marketwatch.com/story/marc-fabers-forecast-for-the-us-stock-market-is-frightening-2016-01-07

Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.