Loading ...Author Dent: Dow Will Climb to 17,000, Then Crash to 6,000
Wednesday, 05 Mar 2014 07:30 AM
By Dan Weil
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The Dow Jones Industrial Average will probably reach 17,000 within the next few weeks and then enter a horrific downturn that will take it to 6,000 by 2016, says financial author Harry Dent.
A move to 17,000 would represent a 3.6 percent increase from Tuesday’s close of 16,396, and then a move to 6,000 would represent a 63 percent plunge.
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“I think we see another correction, crash, that is larger than the last one,” Dent tells CNBC. “Every bubble — and these are bubbles — has taken us to new highs, and every crash has taken us to new lows. . . . I think this will be the most dangerous period in people’s lives in investing.”