Morgan Stanley's Wilson Warns of 13% S&P 500 Drop Amid 'FOMO' Speculation Boom
• Morgan Stanley CIO Mike Wilson reiterated his bearish S&P 500 forecast, seeing a potential 13% sell-off by year-end
• Wilson cited increasing "FOMO" and speculative trading activity among investors as a reason to remain cautious
• Specifically, Wilson pointed to the boom in daily expiration options trading as evidence of heightened speculation
• While not necessarily spelling doom, Wilson said the speculation doesn't justify chasing the market's recent rally
• Instead, Wilson suggested being selective and picking individual stocks rather than buying the overall index