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Business conditions are at their worst level since the 2008 financial crisis, says Morgan Stanley

Mark DeCambre
Business conditions are at their worst level since the 2008 financial crisis, says Morgan Stanley

The gauge touched its lowest point since the 2007-08 financial crisis. Morgan Stanley’s report comes as stocks in June have mostly drifted higher in turbulent trading, with the Nasdaq Composite Index (COMP)entering correction territory on June 3, but gaining 6.3% since that point as of Friday morning trade, according to FactSet data. Swirling anxiety around the U.S.’s trade relationship with China and other major international counterparts has hurt the confidence of business leaders because the unresolved tariff battles have made it difficult for corporate chieftains to develop business strategies and forced many companies to alter their supply chains.