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US stocks will slump, inflation will cool, and a recession will hit as a global downturn takes hold, top UBS strategist says

4 days ago   |   By Business Insider

A pair of traders on the floor of the New York Stock Exchange. Drew Angerer/Getty
US stocks could rally in the short term but haven't bottomed yet, Bhanu Baweja said.
The top UBS strategist sees underlying inflation cooling, and the US economy suffering a recession.
Earnings pressure, higher bond yields, and a global downturn will likely weigh on stocks, he said.
Stocks will slump, inflation will slow, and the US economy will suffer a recession, the chief strategist of UBS Investment Bank told CNBC on Wednesday. "I don't think the lows are in," Bhanu Baweja said about the US stock market...
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