From Yahoo Finance: 2025-04-07 07:13:00

Wall Street strategists are abandoning their bullish views on the US stock market, with forecasts for 2025 being rapidly revised downwards due to President Trump’s reciprocal tariff announcements. Experts like Oppenheimer’s John Stoltzfus have slashed year-end S&P 500 targets, joining others like Goldman Sachs and Barclays in trimming forecasts.

Futures linked to major indexes are pointing towards a third day of significant losses, with a negative sentiment prevailing among investors. Evercore ISI’s Julian Emanuel has lowered his year-end S&P 500 target to 5,600 from 6,800 after a massive sell-off that has seen the benchmark index drop over 17% from its record high.

Policy uncertainty due to Trump’s tariffs is increasing asset volatility, with concerns that negative impacts on survey data like consumer confidence could lead to stagflation or an outright recession. This uncertainty is disliked by investors, CEOs, and consumers, with fears of a worsening economic outlook as tariffs ripple through the stock market.

RBC Capital Markets’ Lori Calvasina has also revised her year-end S&P 500 target downwards to 5,550 from 6,200 following China’s reciprocal tariffs being announced. The fear of escalating trade tensions and their potential impact on the global economy is causing a widespread reevaluation of stock market forecasts for the remainder of the year.



Read more at Yahoo Finance: Wall Street stock bulls throw in the towel as tariff market meltdown ‘projects negative outcomes to infinity’