Stocks Analysis by Investing.com (Thomas Monteiro) covering: S&P 500, USD/CNY, United States 10-Year, NYSE Composite. Read Investing.com (Thomas Monteiro)'s latest article on Investing.com
In fact, the S&P 500 has lost ground in 11 out of the 14 market days of August, down roughly 4.8% for the month, indicating that the highly-expected correction might be already underway.As a result, a mounting number of analysts are growing worried about the health of this year’s stock market rally:
Let’s have a look at the factors currently in play for the market to evaluate the probable depth of the impending correction and whether this could present a buying opportunity.Evergrande’s downfall began in 2021 when China’s government introduced strict measures to control excessive borrowing and cool the property market, depriving developers of a key funding source.
The main thing investors should keep their eyes on at this point is the fallout risks forthcoming from this crisis. A second shoe to drop would send shockwaves across the market, leading to further correction in the global market., leading to significant changes in the country's economic matrix. However, the US economy has proven remarkably robust, with the Atlanta Fed projecting a substantial 5.8% annualized growth rate for the third quarter. Unemployment remains at low levels, and consumer spending continues to display strength.
Analysts now think the 10-year could potentially hit as high as 5% in the upcoming months. Nicholas Colas, the co-founder of DataTrek Research, recently stated that the 10-year Treasury yield could “easily reach” 4.5%-5%. Likewise, Damped Springs CEO Andy Constan told NBC last week that he sees yields easily hitting 4.5%.
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