Morgan Stanley says a 10% to 20% correction is ahead, get defensive and buy staples

People walk along Wall Street in the rain on July 08, 2021 in New York City.
Spencer Platt | Getty Images

The stock market is teetering toward a correction, and investors should burrow down in some less volatile stocks, according to Morgan Stanley.

More In Pro Insight

CNBC ProUber, Alibaba, Nvidia — Halftime traders share picks as markets close out sixth positive month
CNBC ProWall Street analysts think these Dow stocks can jump the most over the next 12 months
CNBC ProHedge fund managers love these stocks, and they are trouncing the market