World famous Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a "long and ugly" recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.

"Even in a plain vanilla recession, the S&P 500 can fall by 30 percent," said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview with an international news agency. In a real hard landing and worst-case scenario, he expects, it could fall 40 percent.

World famous Economist Nouriel Roubini, who correctly predicted the 2008 financial crisis, sees a "long and ugly" recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.

"Even in a plain vanilla recession, the S&P 500 can fall by 30 percent," said Roubini, chairman and chief executive officer of Roubini Macro Associates, in an interview with an international news agency. In a real hard landing and worst-case scenario, he expects, it could fall 40 percent.