Morgan Stanley Says Market All-Clear Too Early for Crypto and Stock Investors

TLDR: Morgan Stanley flags an 11% drop risk for the S&P 500 if US-China trade issues persist into November. Earnings revision momentum is weakening even as crypto and stocks remain skewed to risk. Morgan Stanley sees trade, earnings and credit stress as major roadblocks before market confidence returns. A rolling recovery may emerge in 6-12 [...]

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