August 24, 2015 / 6:05 PM / 4 years ago

DoubleLine's Gundlach says U.S. equity markets face another major leg down

NEW YORK, Aug 24 (Reuters) - DoubleLine Capital’s co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Monday that the U.S. equity markets face another round of severe selling pressure.

“The U.S. stock market is in a mode of uncertainty, at best,” Gundlach said in a telephone interview with Reuters. “You don’t correct all of this in three days.”

Gundlach, who runs the Los Angeles-based DoubleLine Capital which had $76 billion in assets under management as of June 30, said China’s currency devaluation “was kind of the exclamation point of corroborating the fact that global growth is subpar.” (Reporting By Jennifer Ablan; Editing by Chris Reese)

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