The inventory market may nonetheless contact new lows as uncertainty across the coronavirus pandemic persists, Mohamed El-Erian stated Friday. 

"I do not suppose we're forming a backside but. I believe we're taking place at a slower price," the chief financial advisor at Allianz stated on CNBC's "Squawk Field." "There's a essential distinction there." 

Calling a particular backside is a tough process, El-Erian stated. However he stated he'll really feel assured the market is starting to kind a backside when one among two issues occur.

"Both we get a extremely sharp fall or, alternatively, we get excellent news on the medical aspect. That excellent news is beginning to occur, however hasn't reached crucial mass," he contended. 

The S&P 500 recorded its latest low of 2,191.86 on March 23, which was 35% decrease than the index's all-time excessive in February. The S&P 500's Thursday shut of 2,526.90 is 15% increased than the March 23 low. 

El-Erian has constantly been warning buyers in regards to the uncertainty introduced by the coronavirus...