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Fortune
Fortune
Jason Ma

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

(Credit: Michael M. Santiago/Getty Images)

The S&P 500 just notched its best quarter since 2020 and is up about 9% so far this year, but it’s mostly downhill from here, according to Bank of America.

In a note on Tuesday, analysts reaffirmed their year-end price target of 7,100 for the broad market index, representing a 5% drop from the week’s closing level.

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