To stock investors who think a 20% bear-market-induced sell-off has discounted a recession, think again. Top market gurus from Morgan Stanley’s Mike Wilson to DataTrek’s Nick Colas are warning that the S & P 500 could drop another 20% from here if an economic downturn ensues like many indicators suggest. “At current prices, it seems extremely unlikely that stocks reflect the most likely scenario for future corporate earnings should we see a typical economic recession,” Colas said in a recent…
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