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UBS cuts US stock rating amid trade restrictions
UBS Global Wealth Management has downgraded US equities, cautioning that import tariffs may prolong market volatility by dampening both the US economy and global GDP growth, Bloomberg reports.
The bank downgraded its outlook for US equities from 'attractive' to 'neutral' and reduced its year-end S&P 500 target from 6,400 to 5,800, reflecting downward revisions to corporate earnings estimates.
This rating revision underscores mounting market concerns about the US President's trade policies. UBS Global Wealth Management notes that Donald Trump appears likely to maintain his strategy, even amid rising recession risks in the United States.
Meanwhile, US stocks suffered their worst single-day decline in five years last Thursday following the President's tariff announcement.
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