Goldman Sachs warns of more trouble for US stocks

Goldman Sachs warns of more trouble for US stocks

New York (CNN)Even Goldman Sachs is succumbing to the gloomy mood on Wall Street by abandoning its previously optimistic stance and warning that US stocks will end the year deeply in the red. Goldman Sachs (GS) took an ax late Thursday to its stock market forecast, slashing its year-end target for the S&P 500 from 4,300 to just 3,600. That implies a further drop of 2% from current levels and no lasting rebound. Worse, the Wall Street bank warns of …