Investors should be wary of US stocks as the damage from Fed tightening hasn't yet been reflected in markets, BlackRock strategist says

• A BlackRock strategist said the US stock market hasn't fully priced in central bank tightening yet.
• BlackRock's Ann-Katrin Petersen has a "more cautious stance on US equities for the time being."
• The Fed's rate hikes have caused serious "damage" to the US economy, she told Bloomberg TV.

Investors should be cautious of US stocks because the market hasn't fully priced in the Federal Reserve's interest rate hikes yet, according to a top BlackRock strategist.

Ann-Katrin Petersen, a senior investment strategist for the the asset management firm, is keeping a "more cautious stance on US equities for the time being," she told Bloomberg TV Tuesday.