Goldman Sachs and BlackRock shares fall as recession risk rises
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Goldman Sachs and BlackRock shares fall as recession risk rises

27 September 2022
1 min.
Goldman Sachs and BlackRock shares fall as recession risk rises

Global equities

Analysts at U.S. bank Goldman Sachs Group Inc. (NYSE: GS) downgraded its recommendation for global equities for the next three months to "below market" and maintained an "above market" recommendation for cash amid recessionary risks, Bloomberg wrote.

"Current valuations of equities may not fully reflect the risks involved and there is a possibility that they will decline even further before they bottom out," the Goldman strategist team, led by Christian Mueller-Glissmann, wrote.

BlackRock, the world's largest asset under management, advises investors to "divest from most stocks".

Experts at Morgan Stanley (NYSE:MS) and JPMorgan Asset Management earlier outlined similar concerns after the world's leading central banks signalled their firm resolve to fight inflation, sending global equities tumbling in the past few days.

"We do not expect a 'soft landing' in which inflation quickly returns to target levels without damaging business activity," BlackRock Investment Institute strategists wrote. Which means more volatility and pressure on risky assets awaits us."

Analysts at Goldman last week sharply cut the forecast for the value of the American stock index S P 500 at the end of this year to 3600 points from the previously expected 4300 points. On the previous day, the indicator ended trading at 3,655 points.

It is also worth noting that US stock indices are actively rising on Tuesday, recovering from the decline observed in recent days.

The Dow Jones Industrial Average rose 267.86 points (0.92%) to 29528.67 as of 10:00 a.m. ET, while the Standard and Poor's 500 rose 42.6 points (1.17%) to 3697.64. The Nasdaq Composite jumped 170.71 points (1.58%) to 10973.63 points.

Persons1 and Companies7 in the news

Analyst at Goldman Sachs
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Dow Jones
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Morgan Stanley
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Goldman Sachs
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JP Morgan Chase
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Bloomberg L.P.
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Ford Motor Company
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JP Morgan Chase
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