Goldman, UBS Now See Worst Year for Europe Stocks Since 2008
- Stoxx 600 seen ending year at 444 points in monthly survey
- Targets are being slashed amid energy crisis, recession fears
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Strategists have been slashing their year-end targets for European stocks, with those at Goldman Sachs Group Inc. and UBS Group AG now expecting the worst year for the region’s equities since 2008.
The Stoxx Europe 600 Index will end 2022 at 444 index points, down 9.1% for the year and the worst annual performance since 2018, according to the average of 16 estimates in Bloomberg’s monthly survey. Targets of the more pessimistic strategists indicate the poorest return since the 46% drop during the global financial crisis.