Nouriel Roubini, chairman and CEO at Roubini Macro Associates, discusses how a recession can impact US equity and credit markets with Francine Lacqua on "Bloomberg Surveillance Early Edition." US stocks will have much further to fall if the economy careens into a severe recession next year, according to a prominent economist known as “Dr. Doom.” Nouriel Roubini, a New York University professor emeritus known for his pessimistic economic predictions, warned the S&P 500 could plunge another 25% in the event of a severe downturn in 2023. The broad-based index has already fallen about 17% since January during a period of sustained market volatility. “Even if you have a short and shallow recession, typically, from peak to trough, the S&P 500 falls by 30%. During the [global financial crisis], it fell by 50%,” Roubini told Bloomberg on Wednesday.