[Editor’s note: In view of the most recent market volatility and devaluation in China, Knowledge at Wharton has updated this interview, which was initially conducted earlier this week.]

Despite the global upheaval as the Chinese stock market plunged this week, Wharton finance professor Jeremy Siegel is sticking with his forecast for a 10% rise in the Dow for 2016 (or around 19,000 by year-end). But he cautions that the first half of the year will suffer an economic drag caused by lower oil prices, which touched a 12-year low on January 7.

He also notes the following, regarding the most recent events in China:

“The devaluation of the yuan is the most important issue driving markets in recent weeks.…