Economist Peter Schiff has fired a warning shot at investors, drawing parallels between the current market conditions and the 1987 stock market crash.
What Happened: In a recent tweet, Schiff compared the current rise in Treasury yields to the situation in 1987 when the yield on 10-year Treasuries rose from 7% to 10% by October. Despite the Dow soaring over 30% by August, it eventually collapsed by over 30%. Schiff asserts that the present rate rise poses an even greater risk.
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