TSLA - Recession Alert! JPMorgan's Kolanovic Foresees 20% Market Downturn | Benzinga

JPMorgan’s (NYSE: JPM) chief market strategist Marko Kolanovic is reportedly sounding the alarm, forecasting a 20% nosedive in the S&P 500, a storm brewed by the tumultuous winds of skyrocketing interest rates.

The strategist advises investors to consider the safety of cash, given the precarious market conditions that could usher in a recession, according to a CNBC news report.

Kolanovic suggests choosing cash at a 5.5% return in the money market, and short-term Treasurys is a crucial protection strategy right now.

The S&P 500 is teetering on the edge, with the specter of a five-week losing streak looming large. The index has already retreated over 5% in the past month.

Also Read: Full story available on Benzinga.com