BENGALURU : Global stock markets are expected to correct in the next three months as investors digest the fact that interest rates are likely to stay higher for longer, according to a Reuters poll of equity analysts.
The poll showed a majority would fall short, or just about recoup their 2022 losses by the end of the year. Stocks have rallied about 20 per cent in recent months and some strategists say that the market has gone too far. "If however this stronger growth drives inflation expectations, or inflation is higher than expected, then the prospect of the Fed having to do more/too much, in a world of structural change, adds to the risk of policy error, leaving equities vulnerable."
Wall Street's benchmark S&P 500 index was expected to advance about 5 per cent from Tuesday's close by year-end. The S&P 500 was predicted to end 2023 at 4,200 points, a 9.4 per cent increase for the calendar year. This forecast target was unchanged from a November 2022 poll.
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