Excerpt from MarketWatch quoting DataTrek’s Nick Colas:
…”Bears who reckon the S&P 500 hasn’t yet found its bottom see the large-cap benchmark falling 15% to 35% from current levels, according to DataTrek Research co-founder Nicholas Colas.
With that in mind, the Wall Street veteran, in a Thursday note, outlined four downside scenarios that investors should consider:
3,386 – ‘the last pre-pandemic high for the S&P 500‘
Both the MSCI EAFE Index MFSU22, which measures the equity market performance of developed markets outside of the U.S. and Canada, and the Emerging Market equity index, traded below their early 2020 levels, Colas noted.
“If ‘rest of world’ stocks have already given up their pandemic gains, why should U.S. large caps be any different,” Colas said”….
Full article here on MarketWatch.