: Stocks are heading toward a bear market in 2023, Deutsche Bank warns

Deutsche Bank made waves when its economists became the first of the major Wall Street banks to say the U.S. economy would soon go into recession.

“Two shocks in recent months, the war in Ukraine and the build-up of momentum in elevated U.S. and European inflation, have caused us to revise down our forecast for global growth significantly,” Deutsche Bank economists, led by David Folkerts-Landau and Peter Hooper, wrote in a 68-page note to clients Tuesday. “We are now projecting a recession in the U.S. and a growth recession…