What Did Goldman Sachs and Morgan Stanley CEOs Say to Spook the Market?

The U.S. stock market turned sharply lower Tuesday morning in reaction to seemingly negative comments by the CEOs of Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS). At the Global Financial Leaders' Investment Summit in Hong Kong, each Wall Street executive warned of a potential drawdown in the U.S. market in coming months."It's likely there'll be a 10 to 20% drawdown in equity markets sometime in the next 12 to 24 months," said Goldman Sachs CEO David Solomon. "Things run, and then they pull back so people can reassess."Morgan Stanley CEO Ted Pick agreed that a drawdown of 10% to 15% is likely in the near term.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool