S&P on Trip to 1266? Faber Says Yes

November 7, 2012 2:44 PM EST
Investor Marc Faber, aka Doctor Doom, said he thinks the S&P 500 will revisit June lows at 1,266. His comments came during an interview on Fox Business Network this morning.

"I'm not surprised the market is selling off because technically the market was weak already for a couple of months and we are in a downtrend," Faber said.

Faber told interviewers that, from the peak, the market will drop "at least 20 percent" and will "revisit" lows of June at 1266".

He also said President Obama's economic policies are "obviously not very good for an economic expansion".

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