One chief equity strategist says that the S&P 500 Index could face a significant decline next year following its 2024 gains.
Barry Bannister, chief equity strategist of Stifel, warns the S&P500 is set for a 26 per cent plunge in 2025.
“All the major bull markets in the last 80 years or so have occurred with brand new technologies. In the 50s, nuclear was a big deal. And in the 60s 70s, computers and semiconductors just came on the scene, and they were a big deal,” he said. “We are now… in a highly political environment in the United States. Populism is here and it’s here to stay. The battle in this election is really over what brand of populism, right or left-wing populism, will prevail,” he said.
“The Fed then having to play catch up will just cause this unnecessary volatility… we could go up and then back down very quickly over the next year,” he said.
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