Buyers ought to be shopping for particular person shares, not indexes as a result of extra coronavirus-driven market volatility is coming, economist Mohamed El-Erian mentioned Monday. 

El-Erian, chief financial advisor at Allianz mentioned, he felt the time of "promoting every part" handed a number of weeks in the past however the "all clear" second just isn't right here but. It's now a second for being selective each in what traders purchase and promote, he mentioned.  

"If you happen to really feel it is the all clear, exit and purchase the index ... I do not suppose we're there but," El-Erian mentioned on CNBC's "Squawk Field." "We're not in an all clear."

El-Erian's feedback got here after a robust week for shares that noticed the Dow Jones Industrial Common publish its greatest weekly achieve since 1938, rising greater than 12%. The S&P 500 and Nasdaq posted features of 10.3% and 9.1%, respectively, for his or her greatest weeks since 2009. 

El-Erian, former co-CEO of funding large Pimco, mentioned traders ought to be promoting firms that face the true prospect of bankruptcies as a result of financial shock...