 "Ray Dalio, Bridgewater's Ray Dalio")
Billionaire Ray Dalio, founder of one of the world's biggest hedge funds, has predicted a sharp plunge in stock markets as the U.S. Federal Reserve raises interest rates aggressively to tame inflation.
"I estimate that a rise in rates from where they are to about 4.5 percent will produce about a 20 percent negative impact on equity prices," Bridgewater Associates' founder Dalio wrote in a LinkedIn post on Tuesday.
His comments came the day data showed U.S. consumer prices unexpectedly rose in August. The inflation data raised fears of another outsized interest rate hike next week and sent stock markets
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