U.S. stocks could see a sharp selloff later this week if Federal Reserve Chairman Jerome Powell again pushes back against expectations that the central bank could cut interest rates later this year, according to a top U.S. equity strategist at Morgan Stanley.
A more “hawkish” message from Powell at Wednesday’s Fed meeting could trigger a “near-term negative surprise for equities” after two straight months of gains for the S&P 500, according to Michael Wilson, Morgan Stanley’s chief U.S. equity strategist and chief investment…