Sustained market declines in the wake of the recent global sell-off could become a "self-fulfilling prophecy" that eventually leads to a recession, Morningstar DBRS analysts warned.
Sustained market declines in the wake of the recent global sell-off could become a "self-fulfilling prophecy" that eventually leads to a recession, Morningstar DBRS analysts warned. The data sparked concerns about the state of the world's largest economy and whether it was headed for a recession, also raising questions about whether the Federal Reserve was wrong not to cut interest rates when it met last week.
"Despite the sharp declines in stock markets globally, we still view banks in the U.S. and other major markets as being resilient, having sufficient capital and liquidity buffers even if the stock market continues to decline or the U.S. falls into a recession," the Morningstar note said.
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