This Market Selloff Isn't Exhausted Yet: 3-Minutes MLIV

Summary

Mark Cudmore argues that the current market selloff is not yet exhausted and advises against buying the dip. He cites negative news from the Middle East, Fed rate hike expectations, and the fact that Asian markets closed near lows as evidence. He expects further short-term weakness as the disconnect between overpriced markets and bleak reality resolves. The Fed faces a dilemma of holding too long then hiking behind the curve.

• Mark Cudmore says the selloff likely has more room to run.
• He warns against buying the dip early.
• Middle East tensions and Fed hike risks are key headwinds.
• Asian markets closed near lows, indicating dip buyers are losing.
• Market is priced for a positive world but news is negative.
• The Fed may hold until forced to hike multiple times.
• Oil prices rose 4.9% on Middle East tensions.
• The AI rally cooling is a contributing factor.