JPMorgan's Grim Stock Market Outlook for 2022
JPMorgan Chase predicts a challenging macro backdrop for the stock market in 2024, citing slowing economic growth, depletion of household savings, and geopolitical turmoil as potential triggers for a steep decline in the S&P 500. The bank's chief global equity strategist, Dubravko Lakos-Bujas, forecasts the benchmark index falling to 4,200 by the end of next year, down about 8% from current levels. This outlook is the most bearish among major Wall Street firms, with other analysts also expressing caution due to softening consumer trends and cooling global demand.