Skip to content

Goldman’s Oppenheimer Sees S&P 500 Falling 10% If Recession Hits

  • ‘Cash right now is looking attractive,’ strategist says
  • Says he expects corporate profit margins to come down in 2023
Bloomberg business news
Markets Have Further to Go in Pricing Rate Hikes: Goldman

Peter Oppenheimer, the chief global equity strategist at Goldman Sachs Group Inc., said the US stock market may see more losses as interest rates continue to rise into next year.

Oppenheimer said that stocks typically drop about 30% during so-called cyclical bear markets, suggesting that equity prices have room to fall further. Given that the S&P 500 Index is down about 19% this year, he said “equities can decline by about 10% more” if the US economy goes into a recession.