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Notes from a Nervous Market

With data pointing to increased recession odds, what's next for the economy, the Fed, and stocks? Top strategists and economists weighed in Feb. 5

The bears came out in force Feb. 5, with major U.S. equity indexes each tumbling nearly 3% as a surprising decline in the Institute for Supply Management's (ISM) nonmanufacturing index sparked fears of a recession. What's up with the economy? What's next for the stock market—and the Fed? Here's a roundup of news and views from leading economists and strategists compiled by and the Standard & Poor's MarketScope staff:

Dire ISM Reading Suggests Recession Conditions