When the Dow Jones Industrial Average plummeted more than 3,200 points or 12%, in only two weeks in February, what was message it sending? How does one know if a stock market sell-off is a bull correction that will reverse or a bear market ready to inflict pain on investors?
The US stock market is currently in an environment where rising inflation, robust economic data, tighter central bank policy, flat yield curves and increased volatility all combine to look at a late cycle market, observes Morgan Stanley....