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Billionaire investor Jim Mellon: Sharp sell-off in US stocks is the start of a ‘very major correction’

  • A market correction is inevitable even without trade war fears, billionaire investor Jim Mellon told CNBC's "Worldwide Exchange" on Tuesday.
  • Mellon is not alone in suggesting that today's stock market is the most overvalued on record — more so than in 1929, 2000 and 2007.
  • Tuesday looks set to be a rough day for stocks, with the Dow Jones and S&P 500 indexes at risk of losing the majority of their June gains at the open.

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