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Icahn: Stock market's instability is a sign of "things to come"

Billionaire investor Carl Icahn said on CNBC Tuesday that the stock market is "way over leveraged" and will one day "implode" because of it.

Why it matters: Markets plunged more than 500 points on Tuesday after open, following a massive drop on Monday. Icahn said he doesn't believe "this is the explosive time" for the stock market, however its turbulent state is a sign of "things to come."

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