Billionaire David Tepper Is Betting Against the Stock Market Because of the Federal Reserve

Appaloosa Management’s David Tepper says he is worried further tightening of monetary policies from global central banks will hurt the stock market.

“I’m leaning short on the equity markets. I think the upside/downside [risk here] just doesn’t make sense to me when I have so many central banks telling me what they are going to do,” the hedge fund manager said Thursday on CNBC’s Squawk Box. “This is a tough level [for the S&P 500] to talk about robust returns.”