Bill Gross, the co-founder of PIMCO and a prominent investor known as the 'Bond King,' has issued a cautionary statement regarding the current U.S. stock market downturn, which he describes as an 'epic economic and market event.' He advises investors against attempting to 'catch a falling knife' in the volatile market, drawing parallels to the end of the gold standard in 1971. Gross suggests that the ongoing sell-off could lead to severe economic repercussions, likening the situation to the potential for another Great Depression, largely influenced by political factors. However, he also indicates that 'next week may present opportunities' for investors looking to enter the market. His comments come amid significant market volatility, with major U.S. indices experiencing sharp declines, prompting concerns over a leveraged unwind in the financial markets.