The S&P 500 will likely plunge 10% in the near term before the bull market resumes, Morgan Stanley's investment chief says | Markets Insider

will likely see a 10% correction in the near term before the bull market continues, according to Morgan Stanley's chief investment officer.

Wilson added that the S&P 500's attempted breakthrough last week"occured on less momentum" than in September, which suggests that there is more downside to come before the bull market can resume. Wilson, who is also Morgan Stanley's chief US equity strategist, added that the lack of a fiscal stimulus deal, uncertainty surrounding the outcome and timing of the election, and a second wave of the coronavirus are headwinds to higher stock prices in the near term.

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