Reported 8 months ago
Sam Stovall, the chief investment strategist of CFRA Research, warns that the stock market is headed for a correction due to negative factors impacting equity prices. Stovall predicts a 5% drop in the S&P 500, citing concerns over rising interest rates, lingering inflation above the Federal Reserve target, and high stock valuations. The tech sector, which has been a driving force in the market, could particularly face challenges, with tech stocks trading at a significant premium. Other experts also warn of overvaluation in the market, raising concerns about a potential steep correction.
Source: YAHOO