Several scenarios are predicted by MS chief investment officer today. Mike Wilson predicted:
–The trough for the S&P 500 will be around 3,400 in a soft landing outcome (another -11.5 % from 7/18/2022)
–In a recessionary outcome, we think it'd be closer to 3,000, Wilson said in a CNBC interview (-21.7% lower than 7/18/22 closing price.
The good news is this bear market will come pretty quickly.
The S&P 500 index closed Monday at 3,831 just slightly above the bear market threshold. It entered a bear market, meaning it dropped by at least -20% from its January record high, June 13, 2020.
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