The stock market is a 'picker's nightmare' and returns among most asset classes in 2023 are following the path of recession, bear market

• The stock market is currently a "picker's nightmare," analysts at Ned Davis Research said.
• Strategists pointed to negative returns across most asset classes in the market.
• That has typically followed previous recessions and bear markets in stocks, the firm warned.

The stock market is currently a nightmare for portfolio managers — and it's following the path of previous recessions and bear market downturns, according to Ned Davis Research.

Poor performance across most asset classes in the market this year is a harbinger of tough times ahead, NDR said. Stocks and bonds both fell at least 10% for the first time ever this year, and median asset class returns are clocking in at -1.1% so far in 2023, strategists said in a note on Monday.