Reuters
Two major banks expect more pain for U.S. equities
Two major banks expect more pain for the U.S. stock markets after benchmark indexes posted on Wednesday their worst one-day losses in two years. In a report published on Thursday, Barclays strategists said margins for U.S. companies and their forward earnings were under pressure due to a combination of factors, ranging from severity of China’s COVID lockdowns to the war in Ukraine and the U.S. Federal Reserve’s hawkish stance. “Given the numerous negative near-term catalysts for the SPX we believe that the risks remain firmly stacked to the downside,” they said in a note, referring to the S&P 500.
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