Two leading market forecasters, Bob Doll and Jeremy Siegel, have expressed concerns about the stock market’s future performance in a recent commentary. Doll, CEO and chief investment officer at Crossmark Global Investments, pointed to uncertainty over tariffs, inflation, taxes, government cuts, jobs, and spending as key factors contributing to the S&P 500’s recent decline.
The S&P 500 has dropped by 10% from its February all-time high, largely due to these economic uncertainties. Doll believes that the market is shifting towards fears of economic weakness, citing oversold conditions that could lead to a short-term rally of 3-5%. However, he also warns that this could be followed by a re-test of previous lows.
Doll’s commentary notes that companies may need to adjust their earnings estimates as the economy slows down. He believes that prolonged uncertainty and tariff actions increase the risk of recession, eroding consumer and business confidence, and spending plans.
Source: https://www.thinkadvisor.com/2025/03/17/stocks-could-fall-further-doll-and-siegel-warn