Wells Fargo sees a recession brewing by next year — here are 3 stocks it’s keeping behind the emergency glass
When the Fed announced the largest interest rate hike since 1994, the market did not take the news well.
On Thursday, the day after the announcement, the S&P 500 tumbled 3.2%. Year-to-date, the benchmark index has plunged over 23%.
But a stock market downturn isn’t the only thing to worry about, as Wells Fargo now sees the U.S. economy slipping into a mild recession in mid…