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Stocks could see a 10% drop by the end of the year, Stifel’s Barry Bannister says.
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The bank’s stock-strategy chief pointed to the slowing job market and the potential for sticky inflation.
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He added that interest rates likely aren’t dipping below 3% without an economic slowdown.
The stock market could be headed into an end-of-the-year correction, according to Stifel’s Barry Bannister.
The investment bank’s chief stock strategist said investors should take caution heading into the fourth quarter. That’s because the job market is slowing, and inflation could remain sticker than markets are expecting — two headwinds that could spark as much as a 10% decline in the S&P 500, he predicted in a recent interview with CNBC.
“When you add it all together, it’s a slowing economy, particularly on the jobs side — there are a lot of options out there, and the market’s…
