DoubleLine's Gundlach says new US tariffs on China are likely to happen By Reuters

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© Reuters. PHOTO BY FILE: Jeffrey Gundlach, President and CEO of DoubleLine Capital, speaks at the Sohn Investment Conference in New York

(Reuters) – Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said on CNBC Tuesday that he saw a greater than 50 percent probability that new rates would be applied.

Major Wall Street indexes fell more than 1% on Tuesday, as the latest round of trade talks with China fueled global growth concerns and prevented investors from acquiring risky assets.

"I think we will continue to see more tension," said Gundlach. "I think the 25% tariff increase is better than the 50% probability." The market obviously does not want to see an increase in rates, so he was kind enough to react to that. "

When asked if he believed American stocks were in a bear market: "Of course we are," Gundlach said. The US stock market "has gone nowhere in 15 months".

DoubleLine Capital manages over $ 130 billion in assets under management.

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