Goldman Sachs economists warn that markets are not out of the woods yet

Currently an 'event-driven' bear market

Economists at investment banking giant Goldman Sachs have warned that US valuations have to come down before stocks can recover from this “event-driven bear market”.

In a strategy paper earlier this week (8 April), Goldman economists Peter Oppenheimer, Sharon Bell, Lilia Peytavin and Guillaume Jaisson said "most equities have entered, or are on the cusp of, a bear market", a situation in which markets fall by more than 20% from a recent high.  They noted that the global economy was "currently in an event-driven bear market", adding: "The event in this case was ‘Liberation Day' and the sharp rise in tariffs triggered." Opponents blast Trump for market manipulation as he pauses tariffs for 90 days Looking at previous examples of bear markets, suc...