International oil prices plunge, boosting US stocks; Morgan Stanley chief: Market correction is nearing its end

格隆汇 March 17｜ On Tuesday morning this week, international oil prices fell sharply, boosted by expectations that transportation disruptions in the Strait of Hormuz may ease and that multiple countries may release more crude oil reserves. As oil prices dropped, market concerns about inflation also eased, leading to gains in both US stocks and US bonds, and driving Asian stock markets to open higher on Tuesday—the Nikkei 225 index opened up 0.9%. The Korea KOSPI index rose 2.9%. Morgan Stanley's chief strategist believes that although there are still no clear signs of the war ending, the correction in the US stock market may be nearing its end. On Monday Eastern Time, Michael Wilson released a report stating that although a slight decline in US stocks cannot be ruled out in the short term, "we still believe this correction is nearing its end, both in terms of time and price." The strategist pointed out that this correction in US stocks has "matured, with 50% of the stocks in the Russell 3000 Index having fallen at least 20% from their 52-week highs." He also said that the market's performance is "far ahead of the currently obvious risks," adding that this year's US stock market trend is similar to last year's early warning signals. However, he expects the decline in US stocks this time to be "significantly less than last year," but given geopolitical tensions, volatility may persist.