Moody’s Analytics Mark Zandi has a message for investors: Brace for a significant market correction.
The firm’s chief economist expects a more hawkish Federal Reserve will spark a 10% to 20% pullback.
And, unlike the sharp drops over the past several years, Zandi anticipates a quick recovery won’t be in the cards particularly because the market is richly valued. He estimates it could take a year to return to break even.
He suggests the correction may already be underway because investors are starting to get…