"Experts Warn of Looming Recession as Yield Curve Steepens"
Fidelity Investments' Jurrien Timmer warns that the stock market may experience big drawdowns in the months to come as the Federal Reserve nears the end of the rate-hike cycle and the days of peak yield curve inversion have probably come and gone. Timmer studied the 3-month versus 10-year inversion and found that the worst performance was after the inversion in 2007, when the S&P 500 drawdown reached as much as 51%. The market held up for a bit, but then there were big drawdowns in the months that followed.