The market sell-off does not concern the Fed: Mohamed El-Erian

Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens' College, Cambridge, joins CNBC's 'Squawk Box' to explain why he thinks the market sell-off could be entering a new phase. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi 

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