(Bloomberg) -- Michael Burry, the founder of Scion Asset Management who was made famous by Christian Bale in the movie “The Big Short,” said on Twitter that the first half declines in equity markets this year were “multiple compression” and following this will be earnings compression.

Burry recently warned that the Federal Reserve may need to reverse itself on rates and QT.

The famous investor’s warning comes as the S&P 500 suffered its worst first half since Richard Nixon’s presidency.

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