When will the Recession End? Part 236 Roubini Says Stock Market Correction to Last Longer

Nouriel Roubini, the New York University professor and co-founder and chairman of Roubini Global Economics LLC, expects the latest stock-market correction to take longer, Euro am Sonntag reported.

“Many things are fueling uncertainty in the markets and will lead to volatility,” Roubini told the newspaper in an interview. “Economic data from the U.S. and the U.K. are weak, Japan fell back into recession” and “the debt crisis in the periphery of Europe is an extremely high factor of uncertainty,” he said.

The situation in Portugal is “almost worse” than in Greece because the country lacks competitiveness, Roubini said. “Because of all the risks for the economy and markets I don’t believe anybody who says that the stock-market correction will be one of short duration.”

source: http://www.bloomberg.com/news/2011-07-03/roubini-says-stock-market-correction-to-last-longer-euro-says.html

 Roubini Says Stock Market Correction to Last Longer By Jana Randow - Jul 3, 2011 10:15 AM ET