International investor Barry Sternlicht instructed CNBC on Friday he expects the inventory market to mount a quick restoration as soon as the worst of the coronavirus outbreak is over.
"That is going to be actually unhealthy, actually quick," he stated. "We're utilizing this as shopping for alternatives within the public markets."
The founder and chief of funding agency Starwood Capital stated on "Squawk Field" he sees a "V-shaped virtually for positive" bounce for the market, that means a fast down and a fast again up.
Sternlicht made his feedback as Dow futures have been pointing to a significant transfer greater, someday after Wall Road's worst session for the reason that "Black Monday" inventory market crash in 1987.
At Friday's open, the Dow Jones Industrial Common gained about 1,000 factors earlier than giving up a few of these features. The S&P 500 was additionally bouncing Friday after the index on Thursday joined the Dow in a bear market.
Sternlicht, who has invested and run companies via many monetary crises, referred to as the outbreak a short-term subject that "will probably be completed right here,...
Supply cnbc.com