Reported about 9 hours ago
HSBC has become the latest brokerage to reduce its year-end target for the S&P 500 index below 6000, now standing at 5600, citing slower U.S. economic growth and tariff pressures affecting corporate earnings. The bank's strategists foresee continued market volatility driven by recession and stagflation fears, while cutting their earnings-per-share estimate for the index by 5% amidst a challenging economic outlook.
Source: YAHOO