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S&P 500 faces risk of nearly 20% slump, says strategist

The outlook also points to potential demand for gold as investors seek safety, with a target of $6,000 an ounce.

Reported · Written up by our desk · Indices

MarketWatch, citing Clocktower strategist Eric Wallerstein, argues that the stock market is priced for perfection and warns of potential downside for the S&P 500 next year.

Wallerstein’s view suggests the index could be set up for a slump of nearly 20% in the coming year.

The strategist also said a flight to safety could lift gold, pointing to a $6,000 per ounce scenario as investors shift toward protective assets.

Latest closeGold $4,323.20 ▼1.2%|S&P 500 7,706.03 ▼0.8%

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