Paul Tudor Jones, founder of Tudor Investment, issued a rare comprehensive bearish signal for U.S. equities on CNBC on Tuesday, warning that 2027 would be "very, very difficult" for the stock market. He stated that the current supply-demand dynamics for U.S. stocks are "the worst since 2002," reminiscent of the period just before the dot-com bubble burst in 1999, and announced that he would be shorting U.S. equities for the entirety of next year. He believes that a surge in IPO supply and corporate secondary offerings will create immense stock supply pressure, while the U.S. fiscal deficit will also force market correction. Jones is simultaneously bullish on crude oil, expecting an additional $20 to $25 upside in oil prices, citing the difficulty of resolving the U.S.-Iran conflict in the short term. He warned that once oil prices surge, the stock market will "abhor" this situation.