Investors aren't worried too much about whether analysts have to revise their 2014 forecasts because of a rocky past few weeks, Morgan Stanley's chief equity strategist told CNBC on Monday.
More so, they're anxious about whether the U.S. economic recovery could come to a screeching halt, said Morgan Stanley's Adam Parker.
"What they're more worried about is could there be a recession?" Parker said on "Squawk on the Street." "Could the earnings collapse?"
Parker's comments come after two months straight of weaker-than-expected U.S. employment reports and a volatile few weeks in global financial markets, precipitated by fears over emerging economies and the U.S. Federal Reserve's plans to scale down its economic stimulus program.
Still, Parker said his base-case forecast projects 6 percent earnings growth in the S&P 500 this year, or about 11 percent higher than current levels.