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Morgan Stanley says another 10% correction is needed before bull market can resume

The Charging Bull near Wall Street is pictured in New York.
Carlo Allegri | Reuters

(This story is for CNBC Pro subscribers only.)

The market correction that began in September is not over, according to Morgan Stanley.

The Wall Street firm believes equities' failure to break out last week is a sign that September's pullback could continue at least through the election in two weeks.

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