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Goldman Joins JPMorgan in Calling Growth Concerns Overdone

  • S&P 500 poised for the worst annual performance since 2009
  • Market return showing rare divergence with economic data
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Wall Street strategists kept trying to calm equity investors, saying their worries over the economy are overdone.

JPMorgan argued that the risk of an economic recession is “overpriced” with the latest stock sell-off. Goldman Sachs has similarly soothing words. The decline in U.S. stocks has opened up a rare divergence between the market’s performance and economic data, an indication that fears over a growth slowdown have gone too far, according to strategists led by David Kostin.