"My view is simply: relax. I don’t think that equities will collapse. I think we have major support going back to August 2010 when the S&P was at 1010," Faber said.
Just over a year later, the S&P briefly dropped to a low of 1074 on October 4, 2011, he said.
"We have a lot of support around 1100, and if the S&P drops 200 points, I guarantee you the Fed will come in with QE3 and QE4 and so forth," he said, referring to a next round of quantitative easing by the Federal Reserve.
The European Central Bank and International Monetary Fund would do the same, but indirectly, he said.
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