Stocks are headed for a 'boom-bust' fallout as falling inflation sparks an earnings recession, Morgan Stanley's CIO says

• Stocks are still headed for a sharp earnings recession, Morgan Stanley's Mike Wilson said.
• The chief investment officer and equity strategist pointed to falling inflation hurting corporate profits.
• Corporate earnings could slide as much as 16%, strategists previously warned.

Stocks are still headed for a sharp earnings recession as falling inflation chokes corporate profits, Morgan Stanley's chief investment officer Mike Wilson warned in a new client note.