Morgan Stanley: Buy these 9 stocks with up to 43% upside to hedge against the risk of a downturn for an overvalued market

US stocks are set to give up almost all of their year-to-date gains, according to Morgan Stanley.

The Wall Street giant remains convinced that the S&P 500 will end 2023 around 3,900, which implies the index will fall 13% in the next three and a half months after a surprising 16.8% rally year-to-date.