Icahn warns stock market could face 'big drop'

By Svea Herbst-Bayliss and Jennifer Ablan (Reuters) - Activist investor Carl Icahn on Monday said there was a chance the stock market could suffer a big decline, saying valuations are rich and earnings at many companies are fueled more by low borrowing costs than management's efforts to boost results. "They are not coming because the companies are well run but because of low interest rates." He also hinted at his ongoing plan for Apple Inc, the most valuable U.S. company by market value, saying he does not want to fight with management at the iPhone giant but has no plans to walk away from his investment.

via Tech News Headlines - Yahoo! News http://news.yahoo.com/icahn-warns-stock-market-could-face-big-drop-072936507--sector.html