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Wednesday, August 10, 2022

The stock market is headed for another big sell-off unless economic data quickly improves, Goldman Sachs says | Business Insider

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Goldman Sachs: The stock market rally in the United States is not a fresh bull market.

Since mid-June, the S&P 500 has gained 14%, but according to Goldman Sachs, this is not enough to signify the beginning of a new bull market. The bank said that unless economic data improves swiftly, the stock market is destined for another significant sell-off that might lead to new lows. As the rate of savings continues to fall to pre-pandemic levels, high inflation might be very powerful.

Source: https://www.businessinsider.com/stock-market-outlook-sell-off-ahead-unless-economic-data-improves-2022-8

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