"Now it's time for a reappreciation of the economic fundamentals around the world in terms of growth," Brunello Rosa told CNBC's"Street Signs Europe" Friday.
"It's hard for markets to be totally optimistic when inflation is going up, growth is going down and interest rates are rising fast across the globe," he added. Stock markets are set for more heavy selling this summer as central banks around the world ramp up interest rates to try to combat spiraling inflation, according to one economist.
Brunello Rosa, who is the CEO and head of research at Rosa & Roubini, a consultancy he co-founded alongside well-known market bear Nouriel Roubini, believes there is much more monetary tightening to come from central banks, and more bad news on economic activity. "Now it's time for a reappreciation of the economic fundamentals around the world in terms of growth," he told CNBC's"Stay informed during the severe weather season with our local news and weather app. Get the NBC 5 Chicago app for