Following a sharp decline in the S&P 500 Index, which erased $5.4 trillion in market value over two days due to escalating trade war concerns, Evercore ISI has joined other Wall Street firms in revising its 2025 targets downward. The firm acknowledges that its previous projections were overly optimistic but maintains a bullish outlook for stocks by year-end. Julian Emanuel, Evercore ISI’s chief equity and quantitative strategist, reduced his year-end forecast for the benchmark index to 5,600 points, approximately 10% above the closing level of 5,074 on Friday. This adjustment comes in response to President Donald Trump’s recent tariff actions, which have unsettled global financial markets. — new from Bloomberg.com
