Top Morgan Stanley Strategist Says Stocks Are Ripe for Relief Rally, but Warns of Coming Bear Market

A trader stands outside the New York Stock Exchange in New York on Sept. 23, 2022. Mary Altaffer/AP Photo

A top Morgan Stanley strategist said that Wall Street is ripe for a short-term rally before falling deeper into a bear market.

Shares in U.S based companies have been struggling since the start of the year, with the S&P 500 index on the verge of witnessing its biggest annual decline since the 2008 financial crisis.