Even some market bulls can’t deny sell-off risks right now.
Wall Street veteran Bill Stone, who spent 18 years as a chief strategist at PNC Financial, told CNBC’s “Trading Nation” on Wednesday that a 5 to 10 percent stock market drop is conceivable in the coming weeks.
“Since we are back close to the highs for the S&P 500, risks of a pullback have certainly risen,” he wrote in a note to CNBC.
The S&P 500 has been flirting with fresh records. The index is now just fractions of percent from its all-time high of 2,872.87.
