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Jeremy Siegel sees coronavirus as a ‘severe one-year shock’ to stocks but then a ‘bounce back’

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Wharton School professor Jeremy Siegel said the coronavirus outbreak would cause a one-year hit that could drag down earnings by as much as 30%, but that markets should rebound next year.

Siegel, speaking on CNBC’s “Squawk on the Street” as the stock market extended its dramatic sell-off, said the odds are “overwhelmingly yes” that the economy and stocks will bounce back in the next couple of years, despite the outbreak.

“I see this as a very severe one-year shock, and then a bounce back that could be extremely rigorous,” Siegel said.

Reported by CNBC

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