A nearly 10% fall in the S&P 500 (^GSPC) has prompted Wall Street strategists to revaluate their bullish views headed into 2025. And late Tuesday night, Goldman Sachs chief US equity strategist David Kostin became the first big name on the Street to lower their year-end price target for the S&P 500 following this drop,

"It will take a while before we have greater certainty, which means we will continue to experience elevated volatility and ongoing technical pressure."Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute,

Goldman Sachs analysts have lowered their forecast for the S&P 500 this year following a broad sell-off to start this week amid uncertainty around the Trump administration's proposed tariffs and the economic outlook.