S&P 500 Targets Are Being Slashed as Oil’s Surge Roils Markets
- Yardeni Research cuts S&P 500 forecast to 4,000 for 2022
- Evercore ISI’s Emanuel sees outside risk of testing 3,670
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Expectations for the S&P 500 index are buckling under the clamor of inflation and economic growth worries stoked by crude oil’s rally.
The U.S. equity gauge may drop to 4,000 by the end of 2022 -- a fall of some 8% from current levels -- according to Yardeni Research, which last month had a target of 4,800. Evercore ISI cut its outlook to 4,800 from 5,100.