"We should welcome the possibility that there would be drawdowns, 10% to 15%, that are not driven by some sort of macro cliff effect," Pick said
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Morgan Stanley CEO Ted Pick on Tuesday cautioned that the global equity markets could be heading towards a correction.
"We should welcome the possibility that there would be drawdowns, 10% to 15%, that are not driven by some sort of macro cliff effect," he said at the Global Financial Leaders' Investment Summit in Hong Kong. (Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)
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