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Stimulus Running Out: BlackRock Downgrades U.S. Stocks To Neutral

Plunging Dollar

EDITOR NOTE: BlackRock just downgraded US stocks. As an investor, you should be wondering whether this is a short-term or long-term play. Yes, monetary and fiscal stimulus may have been responsible for helping drive up stock market valuations. Retail investment also played its part, as mainstream investors are generally optimistic. But in light of the current coronavirus surge, are we seeing determined optimism or irrational exuberance? Judging from BlackRock’s latest move we’re seeing the latter.

The massive run-up in U.S. equities from the late-March lows could slow down as coronavirus cases rise at a record pace, according to BlackRock.

The asset-management giant downgraded U.S. stocks to neutral from overweight. That rating change comes after the S&P 500 soared more than 44% from an intraday low set on March 23 amid expectations of a swift economic recovery following the coronavirus-induced shutdown.

Read more on CNBC



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