Wells Fargo Warns of 5%-10% Downside Risk to Equities

Ohsung Kwon, chief equity strategist at Wells Fargo, lowered his year-end target for the S&P 500 to 7,700 and identified downside risk to equities of 5% to 10%, according to Bloomberg. Kwon's revised forecast reflects his assessment of current market conditions. The previous year-end target was not specified in the available information.

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