A famed economist who called the 2008 recession warns stocks look ‘eerily similar’ to how they did before their 25% drop in 2022 — and says the US economy is still heading for a downturn

• David Rosenberg, an economist who called the 2008 recession, says stocks will face weakness ahead.
• Rosenberg’s US equity model is at its lowest possible level, he showed in notes this week.
• Rosenberg says the US economy continues to head for a recession.

The S&P 500 is just inches off of its January 2022 all-time high. Unfortunately, the benchmark index could be doomed to suffer the same fate in 2024 as it did then, when it fell as much as 25% and closed out the year down 20%.