Stocks to see 10% correction: PIMCO’s guru

PIMCO’s chief executive of giant bond manager Mohamed El-Erian says that the burst of economic activity fed by government spending and near-zero interest rates will soon whether. He adds the within a spam of three or four weeks stocks will drop 10%, the unemployment rate will be up 8% a year from now and the US gross domestic product will grow at an average 2% or so for years to come.

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