“Stocks are poised for a correction that could take them down more than 5 percent, says the normally bullish David Bianco, U.S. equity strategist for Deutsche Bank.
The economy stagnated during the middle of 2010 and 2011 just like it is this year, Bianco writes in his monthly report, obtained by Business Insider.
The stagnation triggered a slump for stocks in each of the past two years, with the Standard & Poor’s 500 Index falling 16 percent during the stagnation of 2010 and 19 percent in 2011.”
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