Bank of America Strategist Michael Hartnett (BAC) warns of trouble ahead with the S&P 500 (^GSPC), claiming it’s at risk of dropping another 5% after falling below 4200, just shy of a technical correction. Stocks across the board have seen a decline in recent months due to seasonal trends as well as a myriad of economic headwinds from geopolitical conflicts to higher interest rates, and more. Many investors were looking forward for a strong performance from the Magnificent Seven, but so far, those stocks have not been able to turn the market around.
Yahoo Finance Anchors Seana Smith and Diane King Hall break down Hartnett’s comments, the tech sector’s quarterly performance, and what it means for the market going forward.
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