On March 26th, the Chief Strategist of UBS Investment Bank stated that the “clearly exhausted” American consumers are likely to further pressure stock prices, potentially causing the S&P 500 index to fall another 8%. Bhanu Baweja stated that indicators such as employment expectations, expenditure prospects, and consumer confidence are flashing warning signals. As analysts lower their profit expectations for the next three to four months, they expect the S&P 500 index to fall as low as 5300 points.
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