Dow -89 Morgan Stanley: The stock sell-off is going to get worse
The stock market is in the middle of a rolling bear market, says Morgan Stanley's Mike Wilson. The stock market sell-off is only going to get worse, predicts Morgan Stanley's chief U.S. equity strategist, Mike Wilson. In a note to clients Monday, he wrote that the pain is not over for growth, discretionary and tech stocks, which been the final holdouts until last week.
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ell-off. The Dow Jones Industrial Average closed 89.44 points lower, while the S&P 500 fell 0.6 percent and the Nasdaq Composite dropped 0.9 percent.
The action followed last week’s rout that saw the major indexes suffer their worst weekly loses since March thanks to fears about rapidly rising interest rates and a possible global economic slowdown.
Wilson said last week that those rising interest rates served as the “tipping point” for the rolling bear market to finally hit the U.S. and “take out the last holdouts.”
https://www.cnbc.com/2018/10/15/morgan-stanley-the-stock-sell-off-is-going-to-get-worse.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo
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