"It will take a while before we have greater certainty, which means we will continue to experience elevated volatility and ongoing technical pressure."Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute,

A nearly 10% fall in the S&P 500 (^GSPC) has prompted Wall Street strategists to revaluate their bullish views headed into 2025. And late Tuesday night, Goldman Sachs chief US equity strategist David Kostin became the first big name on the Street to lower their year-end price target for the S&P 500 following this drop,

Goldman Sachs analysts have lowered their forecast for the S&P 500 this year following a broad sell-off to start this week amid uncertainty around the Trump administration's proposed tariffs and the economic outlook.

The reduction by Ed Yardeni, president and chief investment strategist of Yardeni Research, is notable for a few reasons, one being that he was one of the top bulls on Wall Street. (Oppenheimer as of pixel time has the top forecast with a 7,100 target for the S&P 500, which would now require a 27% surge over nine months to be met.)

The Magnificent Seven — the group comprised of tech stocks Nvidia (NVDA), Alphabet (GOOG, GOOGL), Tesla (TSLA), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), and Apple (AAPL) — has been relabeled as the "Maleficent" Seven by Goldman Sachs.

Investment bank Goldman Sachs (GS) has become the first Wall Street firm to lower its year-end target on the benchmark S&P 500 index as the

Goldman's chief US equity strategist lowered his year-end price target for the S&P 500, but said there's a path to recovery for stocks.

Goldman Sachs Group Inc. strategists lowered their target for the US equity benchmark, and lifted their view on European earnings, in a further sign of growing skepticism on the outlook for the world’s largest economy.

Goldman Sachs lowers its S&P 500 target to 6,200, citing policy risks and economic concerns. The index lost $4 trillion in value.

The outlook for the U.S. economy this year isn’t so rosy anymore. Goldman Sachs Chief Economist Jan Hatzius cut his 2025 U.S. GDP growth forecast to 1.7%, pointing to the impact of tariffs on the economy and consumers.