"A global trade war is not going to be good for the stock markets", Roubini said.
The economist, known for his consistent warning of economic crashes, acknowledged the pitfalls of past recession forecasts in a recent Project Syndicate note.
Delivering a speech at the IndexUniverse's Inside Commodities Conference Nouriel Roubini's tone reflected an improbable belief in a stronger US economy.
Stocks have staged a huge surge this year despite tepid economic growth, with the Standard and Poor's 500 rising 0.6 percent Monday and 15 percent for 2015.
Noted American economist Nouriel Roubini said India is not passing through stagflation but maintained that the prevailing conditions are "not ideal" for faster economic growth and cost of doing business is too high in the country due to "excessive levels of corruption".
Indian macros are increasing looking better than what they did a while back, mainly on account of cool off in global commodity prices. However, Nouriel Roubini of Roubini Global Economics says though it will benefit us in the short-term, in the long run it will be bad news for India.
The U.S. will not end its quantitative easing (QE) program before 2014, according to Christian Menegatti, managing director of research at Roubini Global Economics.
The "easy money" policy of the Federal Reserve will continue for "as far as the eye can see" and that's going to continue to be good for the US stock market, noted economist Nouriel Roubini told CNBC on Tuesday.
Political instability in emerging markets, led by China, will be one of the biggest risks for markets in 2013, Ian Bremmer, president of political risk firm Eurasia Group, said on Monday.