The S&P 500 could plunge to 3,000 if the economy falls into a recession in the near future, which would amount to a roughly 24% drop from the index’s current level of around 3,900, according to a recent note from Deutsche Bank’s chief U.S. equity and global strategist, Binky Chadha.
Market losses could intensify if the economy falls into a recession, notes Goldman Sachs chief U.S. equity strategist David Kostin, who puts the odds of a downturn within the next two years at 35%.
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