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The S&P 500 could plunge another 16% and won’t bottom until the Fed starts to cut interest rates, UBS says

The S&P 500 US stock index could fall another 16%, before bottoming out in nine months’ time once the Federal Reserve switches away from hiking interest rates, UBS has forecast. The Swiss bank’s strategists laid out this scenario in a Monday note: “Weak growth and earnings drag the market lower …

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