The decline in the US stock market over the past 3 weeks has become the starting point for a sell-off, which, according to JPMorgan analysts, will only intensify in the near future. This will be facilitated by macroeconomic risks, such as rising Treasury bond yields, a stronger dollar and higher oil prices. Analysts at the investment bank draw attention to the unreasonable calmness of investors in relation to stock valuations, high inflation and lower expectations of an early interest rate cut by the Federal Reserve. Experts foresee that the market correction that has begun will continue. A correction is usually understood as a decrease of 10% or more from the last maximum. JPMorgan also expresses concern about the very high concentration in the market and the expansion of positioning. This week, the S&P 500 index gained 0.9% ahead of the reporting of 180 companies whose shares are included in the index. They make up more than 40% of its market capitalization.
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