BlackRock says it's time to 'shun most stocks' with markets underestimating the risk of a Fed-induced recession

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• Investors should avoid most stocks with recession risks rising, according to BlackRock.
• The Fed and other central banks have underestimated the severity of the recession that their rate hikes could trigger, the asset manager said.
• "This all implies a clear sequence: overtighten policy first, significant economic damage second and then signs of inflation...