"New Bond King" Jeffrey Gundlach stated that the US stock market is outwardly prosperous but inwardly rotten, with 80% of S&P 500 components already in a technical correction and 39% in bear market territory. He also expressed deep concern about hidden losses in the private market (with one private credit fund's underlying assets shrinking by approximately 23%), the uncontrolled expansion of the US fiscal deficit pushing up inflation, and the erosion of the dollar's safe-haven status.