'Dr. Doom' Nouriel Roubini says he would short US stocks for the rest of the year as 10% decline is 'highly possible'

• Economist Nouriel Roubini would recommend shorting US stocks as they could drop 10%.
• That's because global growth is slowing, with oil prices and inflation remaining high, he told Bloomberg TV.
• Central banks must maintain higher interest rates to avoid a coming stagflationary era, he added.

Economist Nouriel Roubini said he would short US stocks through the remainder of this year, reaffirming his prediction that a 10% decline is a likely scenario.

"It's highly possible, given what's happened in the US, in the global economy, and rising oil prices and inflation being still sticky, and the Fed and other central banks not being done yet" hiking rates, he told Bloomberg TV on Monday.