The stock market has been on a roller coaster of late. The benchmark S&P 500 has tumbled 16% to about 4,000 points this year, while the tech-heavy Nasdaq index has plunged 29% to around 11,300 points.
The chief strategist of UBS Investment Bank expects stocks to slump more, inflation to slow, and the U.S. economy to suffer a recession. He warned that American companies could see a blow to their profits as the country slumps into a recession.
