Sharp declines await US stocks in the first half of 2023 against the backdrop of a mild recession and Federal Reserve rate hikes, say JPMorgan Chase & Co. strategists.
The S&P 500 will likely re-test this year’s lows in the first half of 2023, they wrote in a note Thursday, implying a decline of about 12% from current levels. Their prediction adds to calls from strategists at Goldman Sachs Group Inc. and Deutsche Bank AG this week that US stocks are in for a wild ride next year.
