Siegel said in January that the bull market was being driven mainly by momentum and he was worried it would not continue even through the first quarter.
"That's not going to cure the situation, but I think that they should be proactive in this case. I disagree with those that say 'oh, it's only a supply chain problem,'" Jeremy Siegel said on "Closing Bell."
"That's not going to cure the situation, but I think that they should be proactive in this case. I disagree with those that say 'oh, it's only a supply chain problem,'" Siegel said on "Dow Jones Industrial AverageThe sharp decline in stock prices has led to rising pressure on the Fed to cut interest rates. The futures markets shows that traders have priced in, despite Fed officials saying it is too early to make policy decisions due to the epidemic.
"We're really washing out all those momentum players, which is ultimately healthy for the market. That's part of the reason for going down. And certainly the rest of it is fear for what's going to happen to this year's earnings," Siegel said on Thursday.
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