S&P 500 may crash by 1,000-2,000 points: JPMorgan's ex-strategist

JPMorgan's ex-Chief Global Market Strategist Marko Kolanovic expects S&P 500 to fall by 1,000 points or more. The index on Monday dipped around 1% to fall from the 6,000 level during the early trade. "We'll go back down in the 5,000s this year," Kolanovic said, adding that it could go "much lower into 4,000s" due to the new political climate.