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Goldman cuts S&P 500 target again as gloom descends upon stocks

Bloomberg3/13/2022 11:00 AM GMT+08  • 2 min read
Goldman cuts S&P 500 target again as gloom descends upon stocks
The worst may be yet to come, as Goldman's economists see an up to a 35% probability of a recession in 2023
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Goldman Cuts S&P 500 Target Again as Gloom Descends Upon Stocks

Goldman Sachs Group Inc. strategists lowered their target for the S&P 500 index for the second time in a month, implying negative returns for the year, after a global commodity crunch triggered by Russia’s invasion of Ukraine deepened the slump in US stocks.

“The larger risk to S&P 500 earnings stems from higher commodity prices, and in turn weaker consumer demand and economic growth,” the strategists led by David Kostin wrote in a note to clients.

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