Yahoo Finance tech editor Dan Howley breaks down the volatility in the tech sector and what's driving down stock prices for names like Apple and Amazon. Read More...
Reuters
Goldman Sachs cuts 2022 target for S&P 500 by 16%
Analysts at Goldman Sachs wrote in a note late Thursday that the expected path of interest rates by the central bank is now higher than its previous estimate. “Based on our client discussions, a majority of equity investors have adopted the view that a hard landing scenario is inevitable and their focus is on the timing, magnitude and duration of a potential recession and investment strategies for that outlook,” wrote Goldman analyst David Kostin. The Fed indicated on Wednesday global policymakers would “keep at” their battle to beat down inflation, and hiked U.S. interest rates by 75 basis points for a third consecutive time and signaled borrowing costs would keep rising this year.
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