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Market Extra: One of Wall St.’s premier investors says S&P 500 may tumble 16% by summer’s end because markets never ‘had a trade war like this’

Enjoy Thursday’s muted stock-market bounce, because Scott Minerd of Guggenheim Partners says it won’t last for very long.

The chief investment officer and one of the world’s premier bond-fund managers, in a late-Wednesday interview, told MarketWatch that the equity market is likely to stage a mini-rebound in the coming sessions — but then, watch out.

Read:Stock-market bear who called selloff says S&P 500 near fair value, but beware ‘overshoots’

The investor said that by the end of the summer U.S. benchmarks could fall to lower lows than those produced during a withering fourth-quarter selloff that culminated in the ugliest Christmas Eve trading session in history.

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