After the banking crisis, could the next domino be all those empty office buildings in your downtown? Investors and economists are sounding the alarm about the commercial real estate market, seeing trouble ahead with refinancing. This sector has been hit hard for years now with the shift to remote work bringing about rising vacancy rates and falling property values. For her part, Lisa Shalett, the chief investment officer for Morgan Stanley Wealth Management, and strategists, sees a "huge hurdle" ahead.

"We fear stresses in other asset classes will become another headwind for megacap tech stocks alongside those posed by a profits recession and/or economic recession," Shalett wrote in the weekly Global Investment Committee note. And she had some frightening figures.