Stocks could drop 20% after an October disappointment, strategist warns

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Financial data on a monitor,Stock market data on LED display concept

On Wednesday, Joseph Zidle, the Chief Investment Strategist for Blackstone explained to CNBC during an interview that the company stocks could actually be headed towards a beat down. He also estimated that the Fed cut down the rates on Wednesday by quarter points. It is also estimated that another cut down with come from the Fed during the month of October.

Zidle also warned that it could actually rattle the market while demanding an upwards trend based on the 100-basis points apart from what they bagged in the month of July. He also mentioned that it is inevitable that Powell, the Fed Chief will surely wrestle with the inflation situation back home while seeking to align the U.S. rates on a global level.

The markets all around the world have been motivating the Fed to think on a global level. Rates all through the world have gone down and there is a need to cut the existing rates. However, Zidle explained that the Fed might have to act upon the local data. This will evidently constraint the Fed from catering the market everything that is needed currently.

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John Parker is a finance writer and journalist based in the Outer Banks, NC.

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