Strategist Who Foresaw September Slump Says S&P 500 May Fall 10%
- Morgan Stanley’s Wilson cites decades-old trend, macro risks
- Benchmark fails to break long-term resistance for second time
Mike Wilson, chief U.S. equity strategist at Morgan Stanley.
Photographer: Christopher Goodney/Bloomberg
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Mike Wilson, whose August call for an equity pullback proved prescient, is urging investors to prepare for another bout of turbulence.
The chief U.S. equity strategist at Morgan Stanley says that the S&P 500 is at risk of falling 10% from its high reached a week ago. The benchmark gauge just failed for a second time in as many months to break out a long-term trend line that had marked the market’s peaks over the past four decades.