To say that 2016 — all two weeks of it — has been tough would be a vast understatement.
Global markets have seen more than $3 trillion in losses this year as a heap of selling has pushed stocks around the world either into correction or an outright bear market, according to data pulled by Howard Silverblatt of S&P Dow Jones Indices. However, as many on Wall Street point the finger at the collapse in oil prices and continued turmoil in the Chinese stock market, one market pundit says there's no one to blame but the Federal Reserve.
"I think the reason the market is going down is because the Fed pricked the bubble. The Fed raised rates," Peter Schiff, the head of Euro Pacific Capital told CNBC's "Futures Now" in a recent interview. Schiff is
"We are trying to rationalize it by pretending what's happening in the U.S.
- Source, CNBC