Markets ‘should brace for a stocks correction of 10pc’

A trader works on the floor of the New York Stock Exchange in New York. Photo: Michael Nagle/Bloomberg

Alexandra Semenova

Traders should brace for a correction in the stock market as uncertainty swirls around the US presidential campaign, corporate earnings and Federal Reserve policy, according to Morgan Stanley’s Mike Wilson.

“I think the chance of a 10pc correction is highly likely sometime between now and the election,” Mr Wilson said in an interview with Bloomberg Television on Monday. The third quarter is “going to be choppy”.