The Next Big Correction
On CNBC Asia's Wall Street Wrap, Frank Holmes warned viewers about a potential "passive investment index crash" looming on the horizon.
On CNBC Asia’s Wall Street Wrap, Frank Holmes warned viewers about a potential “passive investment index crash” looming on the horizon. With companies shrinking their float and global purchasing manager’s index (PMI) data turning negative, Frank believes there could be a massive sell-off when it comes time to rebalance at year’s end, similar to what happened to the tech bubble in 2000.
To see the full interview, watch the replay here!
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The Purchasing Manager’s Index is an indicator of the economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.