December 17, 2018 / 6:20 PM / 3 months ago

DoubleLine's Gundlach says U.S. equities are in long-term bear market

NEW YORK, Dec 17 (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, on Monday said the S&P 500 is headed to new lows and that U.S. equities are in a long-term bear market.

Gundlach, speaking on CNBC TV, said passive investing reached “mania status” and will exacerbate market problems. (Reporting by Trevor Hunnicutt and Jennifer Ablan; Editing by Dan Grebler)

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