Stocks vulnerable to a 20% downdraft, investor Peter Boockvar warns

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Investor Peter Boockvar anticipates another 20% pullback could hit the market.

The Bleakley Advisory Group chief investment officer told CNBC’s “Trading Nation” on Thursday that the coronavirus’ economic fallout is trapping the S&P 500 in a trading range.

“A lot of the bad news that we’re seeing now in terms of the numbers were priced in the sharp decline from the February highs,” Boockvar said. “[The range is] 2,200 on the downside which we saw in the third week of March and around the 2,800, 2,900 level that we’re kind of hoovering over right now.”

The S&P 500 hit its

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