Consumer Slowdown to Hit S&P 500: UBS Strategist

What You Need To Know

• Bhanu Baweja expects the index to drop as low as 5,300 points as analysts cut profit estimates.
• Multi-asset strategists at HSBC Holdings also downgraded U.S. equities to underweight.
• However, other market forecasters at firms including JPMorgan Chase and Morgan Stanley have said the worst of the downturn is likely over.