Credit Suisse: The S&P 500 Will End the Year Lower Than It Started if the U.K. Goes 'Full Brexit'
From U.K. politics to U.S. stocks.
Investor Cash Piles Up on Brexit, Market Uncertainties
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The S&P 500 started the new year around 2,050, but analysts at Credit Suisse Group AG say the market will end the year lower if the U.K. does, in fact, vote to leave the European Union.
Right now, the firm has a yearend target of 2,150 for the S&P, meaning it would rise about 3 percent from yesterday's close. However, the team, led by Andrew Garthwaite, said it will lower that target by from 7.5 percent to 2,000 if a "full Brexit" goes through. In that situation, the U.K. would take steps to leave the EU almost immediately, rather than spend several months negotiating before a potential second referendum.