But UBS analysts are expecting that global equity valuations will sell off later this year. Stocks may be riding the ongoing bull rally back to all-time highs, but that doesn't mean Wall Street's fears of an economic downturn have completely dissipated. In fact, even prominent investors such as Evercore founder Roger Altman have called for a recession by the end of 2023. And according to analysts at UBS investment bank, a potential market sell-off wouldn't be solely concentrated in the technology sector. In the note, Baweja and his team also shared nine "essential" charts showing why they expect equities to sell off this year.

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Persons: Roger Altman, Joe Mazzola — Charles Schwab's, —, Bhano Baweja, Baweja Organizations: UBS