Why Even Morgan Stanley Says The Selling Has Just Begun

At the same time as Morgan Stanley’s institutional traders were warning that the current tech sell is “different this time”, warning that “you can’t have a >$100bn loss in a well held name and not have collateral damage” and calculating that “the performance of HF longs based on 13F holdings shows the last few weeks have been a ~2 standard deviation loss event”, Morgan Stanley’s chief US equity strategist, Mike Wilson, had some even harsher words: “the selling has just begun and this correction will be biggest since the one we experienced in February.