JPMorgan's Top Strategist Sticks To Bearish S&P 500 Forecast, Warns Of 2008-Like Crash: 'Equities Continue To Price In Little Downside Risk'
Portfolio Pulse from Piero Cingari
JPMorgan's chief market strategist, Marko Kolanovic, maintains a bearish outlook on the S&P 500, predicting a potential 22% drop by the end of 2024. He cites numerous risks including persistent inflation, high interest rates, and geopolitical factors. Despite these risks, equities are trading at record highs.
June 11, 2024 | 5:56 pm
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NEGATIVE IMPACT
JPMorgan's bearish outlook on the S&P 500, as articulated by chief market strategist Marko Kolanovic, could impact investor sentiment towards the bank's stock.
As JPMorgan's chief market strategist maintains a bearish outlook on the S&P 500, it could lead to negative sentiment towards JPMorgan's stock, especially if investors believe the bank's forecasts are accurate.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
JPMorgan's forecast of a 22% drop in the S&P 500 by the end of 2024 could negatively impact the SPDR S&P 500 ETF Trust (SPY).
The SPDR S&P 500 ETF Trust (SPY) directly tracks the S&P 500 index. A forecasted 22% drop in the S&P 500 by JPMorgan would likely result in a corresponding decline in SPY.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100