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US stocks may surge another 20% before historic crash, says 'black swan' fund Universa
Yahoo Finance·2025-09-23 20:40

By Davide Barbuscia NEW YORK (Reuters) -Market euphoria could carry U.S. stocks another 20% higher before giving way to a collapse on the scale of the 1929 crash that ushered in a global recession, according to tail-risk hedge fund Universa Investments. The benchmark S&P 500 has gained about 13% this year, hitting a fresh record high on Monday after the Federal Reserve last week cut interest rates for the first time since December. The central bank has indicated more cuts are likely as it tries to cou ...