Bull Session | What's the biggest threat to the markets?

What is the biggest threat to the markets? -- a survey of 400 chief investment officers, equity strategists, portfolio managers, and CNBC contributors about what they stood in the markets for the rest of 2020, conducted by CNBC Delivering Alpha.

More than 45% of the respondents said a Fed misstep could be the biggest threat to derail the bull market, while over 33% said a major threat came from U.S. surging inflation. No less than 10% listed the biggest threat comes from further aggression from Russia after its invasion of Ukraine. Less than 5% said further pandemic issues as the biggest threat.

The Fed approved a 0.25 percentage point rate hike earlier this month. Fed Chairman Jerome Powell recently indicated a ramp-up inflation fight in the economy, with rating hikes of more than 25 basis points.

Whether the Fed can reduce inflation to its target of a little more than 2% from its current rate of 7% without pushing the economy into recession?

For the market outlook, Most investors (about 58%) believe the S&P 500 will return flat in 2022, while 36% see an 8% rise to the 5,000 level for the equity benchmark for the rest of 2022. Only 6% consider a correction for the S&P 500 to end this year below the 4,000 level.

Hey, mooers! How do you think about the biggest threat to the markets? Please feel free to vote and leave your comments.