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Mobius says there’s a 30% correction coming for U.S. stocks

Mark Mobius, the 81-year-old investment guru, believes the U.S. stock market is set for a 30% correction that would essentially wipe out the gains of the last two years. The renowned fund manager, who left Franklin Templeton, the American investment house, after more than 30 years in January, said “all the indicators” point to a large fall in the S&P 500 (^GSPC) and the Dow Jones Industrial Average (^DJI) . “I can see a 30% drop,” said Mobius, who launched one of the world’s first emerging market funds.