BofA Slashes S&P 500 Year-End Forecast Amid Trade War Fears

BofA Global Research has cut its year-end target for the S&P 500 index to 5,600 due to escalating global trade tensions. This adjustment is in line with other firms like UBS and RBC Capital Markets who also foresee risks impacting the index's performance.

In a significant move reflecting growing global anxieties, BofA Global Research has decreased its year-end target for the S&P 500 index to 5,600. This adjustment underscores mounting concerns over a deepening global trade war.

BofA's revised projection emerges as one of the most conservative on Wall Street, departing sharply from its previous target of 6,666.

The action aligns with similar adjustments made by other influential global research firms, including UBS and RBC Capital Markets, all nervous about trade-related risks impacting market stability.

(With inputs from agencies.)