Multiple people injured, including one officer, after mass shooting outside Arkansas grocery store: reportsUS stocks could fall face a dip of 5% or more before the end of this year, a veteran Wall Street analyst has said, after consumer confidence hit its lowest level since November.of share prices could come to an end after data for June showed that Americans were feeling gloomy about the economy.
Stovall, who previously served as a managing director for S&P Global, compared a possible downturn to a “resetting of the dials” or “digestion” after a big meal.'Zombie mortgages' come back to haunt thousands of homeowners now facing foreclosureHe said that the S&P 500 had seen its 11th-best first quarter return since the end of World War II after surging by more than 10% in the first three months of this year.
He added, however, that 14 of those top-15 returns were followed by a decline of at least 5% or more – with some drops of more than 12%. Bank of America CEO Brian Moynihan last month warned that consumers and businesses were reining in their spending.