The S&P 500 may sink as low as 3,100 next year, these bearish strategists warn

The S&P 500 SPX will soon wrap its best month in more than a year. Even a limp to that finish line that seems to be playing out won’t move the needle on that.

One particularly frustrating aspect of 2023 for investors has been waiting for a recession that never came, as many Wall Street banks also bet on that happening. BCA Research, who provides our call of the day also expected a pullback, and say that is now inevitable for 2024, possibly crushing stocks by 27% from current levels.

“We…