One tough day in the market has awoken a long-time Wall Street bear.

Peter Schiff, CEO of Euro Pacific Capital, told TheStreet that the stock market bubble is getting bigger.

According to Schiff, a pullback of Federal Reserve stimulus from the markets could deflate stock market values. Schiff dismissed the strong results from tech companies like Apple (AAPL) - Get Report , Amazon (AMZN) - Get Report and Microsoft (MSFT) - Get Report and said these companies are benefiting from "cheap money" from the Federal Reserve.

"It's very easy for companies to do well when you have interest rates at historic lows," he said.

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