Morgan Stanley Sees Growing Risk of 20% Drop in S&P 500

(Bloomberg) — A plunge of more than 20% in U.S. stocks is looking more like a real possibility, according to Morgan Stanley strategists led by Michael Wilson.While it’s still a worst-case scenario, the bank said that evidence is starting to point to weaker growth and falling consumer confidence. In a note on Monday, the strategists laid out two directions for U.S. markets, which they dubbed as “fire and ice.” In the fire outcome, the more optimistic view, the Federal Reserve pulls away stimulus


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