Chamath Palihapitiya, founder and CEO of funding agency Social Capital, instructed CNBC on Thursday that the broad market sell-off over coronavirus fears is just like the 2008 monetary disaster and 2000 dot-com bubble bust mixed. 

The Dow Jones Industrial Common plummeted practically 9% on Thursday and was on tempo for its greatest one-day share decline because the market crash of 1987. U.S. shares did get better a few of these losses Thursday afternoon after the Federal Reserve introduced funding actions to fight the disaster. 

"This can be a very, very untested second in our historical past. It is not like the good monetary disaster, it is not just like the dot-com bubble. It is like each on the identical time," Palihapitiya, an early Fb government, stated in a "Quick Cash Halftime Report" interview. "It is the severity and the depth of the good monetary disaster and the lengthy interval of the dot-com bubble." 

"The draw down, I feel tip to tail, will probably be as unhealthy as the good monetary disaster, besides in contrast to it, we're not...