The stock market is about to witness its worst first half in decades this year. The S&P 500 is down more than 20% year-to-date. The Federal Reserve’s further interest-rate hikes to bring prices down could sharply raise borrowing costs, triggering an economic slump.
Morgan Stanley Wealth Management’s Lisa Shalett said that the odds of the U.S economy tipping into a recession this year have doubled in recent weeks to over 50%.
