Goldman Strategist Sees Risk of Further Stock Market Pullback
- Strategist sees downside risks to his year-end S&P 500 target
- Morgan Stanley’s Wilson flags ‘classic bear market action’
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Goldman Sachs Group Inc. strategist David Kostin said he sees downside risks to his target for U.S. stocks, adding to a chorus of Wall Street voices becoming more pessimistic.
Kostin wrote in a note today that “risks appear tilted to the downside” to his forecast of 5,100 index points by year end. At the same time, Morgan Stanley strategist Michael Wilson -- well known for his more pessimistic views on the market -- today doubled down on a prediction for a further pullback.