The stock market is about to see a 10% correction, with further disinflation a 'pipe dream' and Fed rate cuts coming much later, Stifel says

REUTERS/Brendan McDermid

• The S&P 500 could fall around 500 points in a swift correction, Stifel strategists warned.
• The investment firm said falling inflation was a "pipe dream," and Fed rate cuts could be delayed.
• Markets see just one or two rate cuts by the end of the year, per the CME FedWatch tool. 

The S&P 500 could be on the verge of a sharp move down, as inflation isn't cooling much further from here...