Bulls Have Much ‘Explaining To Do,’ Morgan Stanley’s Wilson Says

  • Sees technical support low as 3,460 for U.S. benchmark
  • Wilson is among the most pessimistic voices on Wall Street
Morgan Stanley's Wilson Sees Signs of Cyclical Slowdown
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The selloff in U.S. stocks has a lot further to go, according to one of Wall Street’s most vocal bears.

“We think the S&P 500 has minimum downside to 3800 in the near term and possible as low as 3460,” Morgan Stanley’s chief U.S. equity strategist Michael Wilson said. The gloomy forecast implies a drop between 8% and 16% for the U.S. benchmark from current levels, amid higher costs and increased recession risks, Wilson wrote in a note to clients.