GOLDMAN: ‘Clear And Present Downside Risks’ Will Send Stocks Tumbling Into The End Of The Year
Sam Ro
BusinessInsider.com
Non 18 2012
A year ago, Goldman Sachs’ David Kostin said the S&P 500 would end 2012 at 1,250.
And he’s sticking to that call.
This implies stocks fall 8 percent from here.
“Uncertainty swirling around the ‘fiscal cliff’ that must be resolved by year-end, the pending jump in capital gains taxes at the start of 2013, and the debt ceiling that will be reached in late February represent clear and present downside risks to the market in the near-term,” writes Kostin in his US Weekly Kickstart note.
Kostin thinks a fiscal cliff deal will get done by year end. But past experience tells him that a deal will come as close to the end of the year as possible.
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