Key Words: El-Erian says stock market still hasn’t bottomed and ‘incredibly choppy’ trade still lies ahead

Key Words: El-Erian says stock market still hasn’t bottomed and ‘incredibly choppy’ trade still lies ahead

El-Erian says stock market still hasn't bottomed and 'incredibly choppy' trade still lies ahead. Spread of coronavirus will continue to weigh, says economist and investor. El-Erian, chief economic adviser to Allianz, had warned investors early last month that the global coronavirus outbreak could end the market's longstanding "buy-the-dip" dynamic .. Read: The S&P 500 lost a stunning 7.6% - 's how stocks tend to perform after a 'Black Monday'. The eruption of a global crude oil price war between Russia and Saudi Arabia tanked oil prices on Monday, sending shivers through global financial markets already left fragile by worries over the economic implications of the spread of COVID-19, while underlining concerns over potential stresses in corporate credit.. The former Pimco chief executive said fears over the economic impact of the spread of COVID-19 will likely continue to plague the market as the number of cases continues to rise.. William Watts is MarketWatch's deputy markets editor, based in New York..