Market will crash… don’t know catalyst: Marc Faber

Marc Faber

He’s calling for a 30 percent decline in the S&P 500.

The market is setting up for a big decline that could be as bad as the crash of 1987, according to Marc Faber, known as “Dr. Doom.” He just isn’t sure exactly what will set it off.

“The problem with crashes, you never know beforehand precisely what is the catalyst,” the publisher of the Gloom, Boom & Doom report told CNBC’s “Closing Bell.”

It could come from the credit market, equities being perceived as too expensive or a geopolitical event, he added.

Watch the video and read more.

His comments came a day after he told “Futures Now” that the asset bubble has begun to burst.