World’s top stock strategist says investors are falling into a trap—again

In late 2021, after three consecutive years of double-digit returns by the S&P 500, many Wall Street strategists were sure the stock market would continue to soar in 2022. But Mike Wilson, Morgan Stanley’s chief investment officer and chief U.S. equity strategist, wasn’t so optimistic. Wilson argued that a combination of “fire and ice”—or rising interest rates and fading economic growth—would hurt stock prices and lead to a challenging year for investors.

Every time the stock…

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