This Market Selloff Isn't Exhausted Yet: 3-Minutes MLIV

• Equities are expected to see further declines, with dip buyers currently on the 'back foot'.
• The Middle East geopolitical situation is 'bleak' and causing 'real economic damage', contributing to rising oil prices.
• Financial markets are currently 'priced for an extraordinarily positive world', creating a 'disconnect' with the negative news flow.
• The Federal Reserve is likely to hold rates as long as possible, hoping for a growth slowdown, but if they hike, it will be multiple and indicate they are behind the curve.

Mark Cudmore believes the recent market selloff is not exhausted, with more pain expected in equities. He highlights the 'bleak' geopolitical situation in the Middle East, contributing to rising oil prices, and a 'disconnect' between current market pricing and negative news flow. He anticipates the Fed will delay rate hikes as long as possible, but if they do hike, it will be multiple and damaging.