S&P 500 could fall 20% in the coming months: Bank of America

Even though the S&P 500 has already seen a 15% year-to-date decline, an impending economic slowdown could trigger a more severe stock market correction as early as the first quarter of 2023, according to Bank of America.

“History suggests that if the US economy experiences a recession, the SPX bottoms out during the recession and not before,” the BofA analysts wrote.