‘Markets will start freezing up even if the Fed cuts rates,’ El-Erian says

  • “You need a lot of cash and very little debt to navigate what’s ahead, because markets will freeze up even if the Fed cuts rates, which I think it will,” Mohamed El-Erian said on CNBC’s “Closing Bell.”
  • The market continued its rapid decline Thursday with the Dow Jones Industrial Average falling more than 4.4%. El-Erian said he expects stocks to continue to drop in the coming days.
  • “It’s not yet safe in my opinion to get back into the market as a whole. You’ve got to let these economic and natural dynamics play out before the market is attractive enough for the sort of risk that is ahead,” El-Erian said.

www.cnbc.com/2020/02/27/markets-will-start-freezing-up-even-if-the-fed-cuts-rates-el-erian-says.html?&qsearchterm=mohamed%20el-erian