The S&P 500 looks risky and expensive

• The S&P 500 is priced for perfection and could plunge 25% if problems crop up, Mike Wilson says.

• Morgan Stanley’s stock chief says the outlook for company earnings and the economy is pretty grim.

• Investors have piled into Big Tech to ride out the storm, but they may still feel pain, Wilson says.

US stocks look risky and expensive, and could crash by more than 25% if investors get spooked, Mike Wilson says.

“The S&P 500 risk/reward today is one of the worst I’ve ever seen,…