Here comes another Wall Street S&P 500 target reduction. Stagflation risks are rising. - MarketWatch
1. Jefferies lowered its S&P 500 target to 5,300 from 6,000. 2. Economic slowdown is expected to negatively impact earnings, not a recession. 3. Stagflation risks have risen since Trump tariffs; past stagflation periods saw poor returns. 4. Defensive sectors are recommended over cyclical stocks during stagflation-like periods. 5. Fallen angels identified include Nvidia, Alphabet, and Meta Platforms among others.