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“In our experience, when that happens, it usually means the overall index is about to fall sharply with almost all stocks falling in unison.” “The market has been so picked over at this point, it’s not clear where the next rotation lies,” Wilson wrote. Investors have “very few places to hide” in markets right now, with even defensive stocks succumbing to the pressure in recent days, Morgan Stanley equity strategists led by Mike Wilson wrote on Monday. Stock markets are turbulent and Morgan Stanley is warning clients the ride is about to get even bumpier.
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