DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.

A widely respected economist has sounded a cautionary note about the direction of several major markets, saying that stocks, precious metals, and even cryptocurrencies could be at risk of further declines.

Mark Zandi, the chief economist at Moody’s Analytics, expressed concern about rising financial market risks and growing complacency among investors. His comments come at a time when markets have shown increased volatility, and many investors are hopeful that recent pullbacks represent buying opportunities.

Zandi has observed that investors have been quick to treat every dip in asset prices as an opportunity to buy, assuming that markets will inevitably rebound because they have done so in the past. He pointed to several factors that, in his view, have made the market environment more uncertain.

“Financial markets feel increasingly fraught to me, with the elements for a meaningful selloff coming into place,” Zandi wrote on social media, adding that “this threat is highest for stocks and corporate bonds, but even crypto, gold, and silver remain at risk despite recent pullbacks.”

Financial markets feel increasingly fraught to me, with the elements for a meaningful selloff coming into place. This threat is highest for stocks and corporate bonds, but even crypto, gold, and silver remain at risk despite recent pullbacks. Valuations are high. There are good…

— Mark Zandi (@Markzandi) February 22, 2026

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At the heart of Zandi’s warning is his view that the U.S. economy is not as strong as many investors believe.

He noted that gross domestic product is growing at a pace slightly above 2 percent, which he says is below the economy’s potential of about 2.5 percent.

At the same time, the labor market has shown signs of slowing, with the unemployment rate remaining above 2 percent and job gains lagging in recent months.

These developments, Zandi says, suggest an economy that may be losing steam rather than gaining strength.

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Zandi also pointed to persistent challenges in the Treasury market, where long-term bond yields have climbed, increasing borrowing costs for households and businesses. He noted that hedge funds have responded by increasing leverage, which adds risk to the financial system at a time when public debt continues to grow.

Many investors focus on the potential upside of risky assets, but Zandi’s caution highlights the fact that rising yields and higher leverage can amplify losses if markets turn downward.

Another concern flagged by the economist involves geopolitical and trade tensions. Zandi believes two major risks could unsettle markets: international conflict and changes in trade policy. He suggested that actions by the United States, such as military engagement or the imposition of tariffs, could lead to further market volatility. While he did not make specific predictions about these events, his comments emphasize how economic and geopolitical risks are intertwined.

Despite recent pullbacks in gold and silver prices, many investors continue to view these metals as safe havens. Over the past year, gold and silver have attracted attention for their performance relative to stocks, especially during periods of economic uncertainty.

Some market analysts argue that the rise in precious metals reflects inflation fears and concerns about the strength of the U.S. dollar. However, Zandi’s warning suggests that even these traditionally defensive assets are not immune to broader market pressures.

The cryptocurrency sector has been especially volatile, with major digital assets such as Bitcoin and Ethereum experiencing sharp swings in value over recent weeks.

Cryptocurrencies, which once enjoyed broad optimism as transformative new financial technologies, have shifted in perception for many investors toward riskier speculative assets subject to steep drawdowns. Zandi’s comments highlight that Bitcoin and other digital assets, like stocks and commodities, may face continued downward pressure if investors reassess risk.

It is important to note that markets often move in cycles, and periodic corrections are a normal part of investing.

Many long-term investors view market downturns as opportunities to buy quality assets at lower valuations, believing that markets recover over time. Still, Zandi’s warning is a reminder that markets can remain unsettled for prolonged periods and that active risks to asset prices deserve careful attention.

Investors and policymakers alike will be watching economic data, corporate earnings, and geopolitical developments closely in the coming weeks.

Whether the risks Zandi outlined materialize into sharper declines or whether markets stabilize remains an open question. At the same time, his caution lends weight to the perspective that prudent planning and risk awareness should have a place in any investment strategy.

DISCLAIMER: GoldInvestors.news is not a registered investment, legal or tax advisor or broker/dealer. All investment/financial opinions expressed by GoldInvestors.news are from the personal research and experience of the owner of the site and are intended as educational material. Although best efforts are made to ensure that all information is accurate and up to date, occasionally unintended errors and misprints may occur.