Renowned economist Adrian: Avoid stocks, especially stock indexes.

Mohamed El-Erian warned against bottom-fishing. The prominent economist and former Chief Investment Officer of Pacific Investment Management Company stated in an interview that he is currently avoiding stocks - especially broad market index stocks - as the Iran war has entered its second month. He mentioned that the rise in oil prices is triggering a series of economic consequences, and the market must now factor in a risk that demand shocks may spread throughout the entire economic system. "This is another turning point for the global economy," he said regarding potential demand shocks. "I have shifted from reducing risk preferences to maximum risk avoidance; there are indeed some individual stocks that look attractive at the moment, but I would not choose to enter the market and buy the entire index at this stage." Over the past month, stock prices have continued to decline, with both the Dow Jones Industrial Average and the Nasdaq 100 officially entering a technical correction zone on Friday. However, despite the recent declines, he stated that investors may still be underestimating the economic risks posed by the Iran war. "There is still a view in the stock market that this is temporary, although it may have short-term impacts, we should ignore it," he added.