US stocks could fall into a ‘bear market’
Illustration – Photo: CNBC.
Morgan Stanley Bank immediately warned customers about the possibility that the US might fall into a “bear market” in the near future.
Morgan Stanley said the current backdrop “suggests” that the S&P 500 index will enter a bear market, with a possible drop of as much as 20% from its peak. The sell-off in the last few sessions reinforces the correctness of the view that the market will enter a “period of large-scale sell-off”.
According to the Chief Investment Officer at Morgan Stanley, investors “don’t have a lot of options” in the market right now. Even hedge stocks have faced downward pressure recently.
US stock market dropped sharply in the session on April 26, when investors sold off stocks until the end of the session because of concerns about economic slowdown.
At the close, the Nasdaq index fell 3.95%, hitting a new 52-week low at 12,490.74 points. The Dow Jones Industrial Average lost 809.28 points, or 2.4%, to 33,240.18 points. The S&P 500 index “evaporated” 2.8%, to 4,175.2 points.
This month, the S&P 500 is down 7.8%; Nasdaq lost 12.2% and Dow Jones slid 4.2%.
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