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Fortune
Fortune
Eleanor Pringle

Morgan Stanley’s top Wall Street strategist has warned a major exchange could drop by 20%

Mike Wilson of Morgan Stanley (Credit: Christopher Goodney/Bloomberg - Getty Images)

The worst is yet to come, a leading Wall Street strategist has warned, as investors eye up their prospects after a lackluster end to February trading.

All three of the main U.S. equity benchmarks posted a loss last month as the Dow Jones sunk to its lowest level of the year to date, but Morgan Stanley's chief U.S. equity strategist Mike Wilson says the S&P 500 will be the next index to slump.

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