The S&P 500 Index (SPX) has pulled back from near record highs in recent days amid President Trump’s threat to hike tariffs on Chinese goods, but much steeper declines may be ahead, according to several noteworthy market watchers. “We see some eerie similarities between current conditions in the stock market and those that preceded the S&P 500’s peaks in January and September [of 2018] on our sentiment and valuation models,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, observed in a note to clients, per Business Insider. Calvasina said she expects a market reversal ahead.
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