Bank of America prediction was right

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funkervogt
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Joined: Mon May 17, 2021 3:03 pm

Bank of America prediction was right

Post by funkervogt »

On April 10, 2022, a Bank of America note was published saying:
After the "inflation shock" comes the "rates shock," which will ultimately lead to a "recession shock," according to the note. And that recession will cause the S&P 500 to fall below the key 4,000 level by the end of 2022, BofA said, which represents potential downside of 11% from current levels.
https://markets.businessinsider.com/new ... tes-2022-4

At the time, the S&P 500 was 4,488.

On May 9, the S&P 500 dropped below 4,000. Today, it is 3,901.

The prediction is, if anything, ahead of schedule, since Bank of America said the milestone would be reached "by the end of 2022" which could have been as late as December 31.
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