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JPM: If Oil Prices Remain Above US$90 for Extended Period, S&P 500 May Correct by at Least 10%
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If oil prices do not decline, the recent sell-off in the S&P 500 may intensify, as the rise in oil prices could trigger a domino effect in the equity market, JPMorgan published a research report saying. When losses in the US stock market spread globally, the selling pressure on stocks will further intensify, ultimately impacting economic growth. Today (16th), international oil prices remained at high levels, with May Brent oil futures jumping up 2.8% to US$105.99 per barrel, and April New York oil futures climbing 1.74% to US$100.43 per barrel. If oil prices remain above US$90 per barrel for an extended period, it could trigger a 10-15% correction in the S&P 500, with spillover effects in international and emerging markets, the report added. When oil prices rise to US$120 per barrel or even higher, the sell-off in the S&P 500 will intensify. AASTOCKS Financial News Website: www.aastocks.com |
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