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Crazy Markets Are Shredding Wall Street Stock and Bond Forecasts

  • Upbeat calls misplaced as S&P 500 falls toward bear market
  • Strategists join Fed, economists, traders in missing inflation

Another stormy week has left investors groping when it comes to the direction of stocks and bonds. Expecting to be led out of the darkness by Wall Street’s best and brightest may be asking too much, given their performance so far this year.

As usually happens in twisting markets, it is proving a brutal year to forecast for the securities industry. Back in January, stock strategists known for their enduring optimism expected the S&P 500 to add 5% in 2022. Down 2.4% for a sixth straight weekly decline, the index plunged as much as 19.5% on Thursday from its record.