Stocks could fall another 8% as ‘Trump put’ and ‘Fed put’ expire, says Morgan Stanley’s Mike Wilson

Chris Matthews
Stocks could fall another 8% as ‘Trump put’ and ‘Fed put’ expire, says Morgan Stanley’s Mike Wilson

Mike Wilson, chief U.S. equity strategist at Morgan Stanley, has had impeccable timing of late. In a July 29 note, as the S&P 500 index (SPX) sat near its record closing high of 3,025.86, Wilson argued that equity markets were stretched to their limits, and S&P would fail to break significantly above 3,000, unable to overcome an area that’s provided stiff resistance since last year. “The market is preparing for a bad outcome,” Wilson told MarketWatch in an interview.