Bank turmoil could bring 'vicious' end to bear market, Morgan Stanley says
Turmoil within the banking sector is likely to bring a "vicious" start to the end of the bear market in U.S. stocks, according to Morgan Stanley.
Michael Wilson, the chief U.S. equity strategist at Morgan Stanley and a longtime Wall Street bear, said in an analyst note on Monday that the stock market is in the early and painful stages of exiting the bear market than began in the summer.
"The last part of the bear can be vicious and highly correlated," he said. "Prices fall sharply via an equity...