Photo: Bloomberg Television
In an interview with Bloomberg TV, Marc Faber discussed his previous warning of a potential crash on the scale of Black Monday, 1987.I said that if the markets were not correcting by now meaningfully, and would continue to rise into July and August, then the likelihood of a crash in the fall was increasing. And a crash in the order of say 1987.
Now, we are in the midst of a very significant correction, not so much yet in terms of indices but many shares have already declined 20-40 per cent from their highs.
As we posted earlier this month, Faber called for the potential of a 1987-style crash if the markets continued to rise through June. He was not necessarily calling a crash, but that the potential for one was there if the markets did not correct as they currently have.
That crash-risk now appears to have diminished.
The entire interview with Bloomberg can be seen below.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.