Morgan Stanley’s Wilson Says S&P 500 Correction Nears End Stage

The S&P 500 correction is nearing its final stage even as the Iran war continues, according to strategists at Morgan Stanley, who warn that Federal Reserve interest-rate hikes still pose a threat to stocks.

There is growing evidence that the equities slide “is getting closer to its ending stages,” the team led by Michael Wilson said, citing the example of previous “growth scares” that were not accompanied by a recession or rate hike.