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El-Erian: Markets could fall 10% in coming months

A "range-bound" market could soon swing more dramatically, and an "overshoot" may send stocks 10 percent lower in the coming months, Mohamed El-Erian said Thursday.

"Don't be surprised if you see a 5 to 10 percent move the other way, because that's what we've been having actually for a while now," the Allianz chief economic advisor told CNBC's "Fast Money: Halftime Report."

El-Erian said a market dip is not a certainty. But he noted, regardless of which direction stocks go, he expects they will trade in a wider range than they have in recent weeks.

His comments came as U.S. stock markets slid Thursday, with...


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