Clocktower chief macroeconomic strategist Eric Wallerstein warns the S&P 500 could slide to 6,300 next year, nearly 20% below current levels. He points to 2022 as a precedent, when rate hikes, slumping bonds and an energy shock hit stocks, and expects similar fallout in 2027.
Clocktower's chief macroeconomic strategist Eric Wallerstein expects the S&P 500 to slide to 6,300 next year, nearly 20% below current levels. The index recently traded at 7,706.03, down 0.75%.
Wallerstein points to 2022 as a precedent. That year, the stock market hit a bump largely blamed on interest-rate hikes, slumping bonds and energy shocks tied to Russia's invasion of Ukraine, and he warns of similar fallout for 2027.
His call, highlighted by MarketWatch as its featured pick for the day, ties the potential slump to faltering earnings amid interest-rate hikes and rising energy prices.
Source: MarketWatch (snippet-based)
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