Wall Street executives warn that U.S. stocks could recover more than 10% in the future.
2025-11-04 05:59:25
Investors should be prepared for a correction of more than 10 per cent in equities over the next 12 to 24 months, according to chief executives of Wall Street's biggest investment banks, stressing that such a correction need not be a bad thing. Mike Gitlin, president and chief executive of Capital Group, said earnings remained strong but that "valuations are the challenge". Ted Peake, chief executive of Morgan Stanley, and Solomon, chief executive of Goldman Sachs, echoed similar sentiments, arguing that significant corrections were likely and common in market cycles. Mr. Solomon noted that valuations for technology stocks were already quite full, but the broader market was not. (Jin Ten)
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