UBS Wealth Downgrades US Stocks, Cuts Target on Tariff Blow
Traders work on the floor of the New York Stock Exchange (NYSE) on April 3.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
UBS Global Wealth Management downgraded US equities, warning of prolonged market volatility due to the impact of reciprocal tariffs on the world’s largest economy, and far-reaching implications for global growth.
The firm reduced US stocks to neutral from attractive, and slashed its year-end target for the S&P 500 Index to 5,800 from 6,400 due to lower earnings estimates and valuation. The new forecast still implies a 7.5% gain from Thursday’s close.