Renowned global investor Marc Faber predicts that more money will be made in Indian stock markets in the next 10 years that equities in the United States. In an interview to ET Now, Dr Doom on Monday said that Indian markets are still attractive as compared to peers. Further, the veteran investor said that he will not sell stocks on the back of the PNB scandal. While the ongoing turmoil has affected the Indian stock markets as well, Marc Faber says that the market correction is not very serious as yet.
Amid fears of a global trade war, especially after the US administration maintained that it plans to impose tariffs on up to $60 billion in Chinese goods, despite threats of retaliation from China, Marc Faber said that a full-blown trade war will impact the United States more than China. "The world has become more China-centric. Over the years, the United States has lost its importance and prestige relatively," Marc Faber said in the same interview.
The fears of a full-blown trade war between the United States and China have sent stock markets tumbling around the world. MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent for its fourth consecutive day in the red, according to a Reuters report. Further, the agency reported that index is headed for its first quarterly decline since late 2016 due to the risk of faster U.S. rate rises.