Stock market alert: JP Morgan predicts major decline for S&P 500

In a grim outlook for the US stock market, JP Morgan has sounded the alarm, anticipating a substantial decline in the S&P 500 index by the conclusion of 2023. Marko Kolanovic, the bank's lead market strategist, has set the lowest year-end target among prominent Wall Street financial institutions, projecting the index to plummet to 4,200 points.