The golden age of US stocks is about to end.

DNVN - According to the assessment from Goldman Sachs Group Inc. bank strategists, US stocks are unlikely to maintain the explosive growth momentum of the past decade, as investors turn to other assets, such as bonds, in search of better returns.

Goldman Sachs strategists predict the S&P 500 index will return just 3% in nominal terms annually over the next 10 years, below the 13% return over the past decade and the long-term average of 11%.

Investors should prepare for lower-than-average stock returns over the next decade, these experts say. US stocks have rebounded strongly since the global financial crisis, initially on near-zero interest rates and then on expectations of steady economic growth.

The 23% rally in US stocks so far this year has been largely driven by some of the biggest tech stocks.

Not only the US, financial group Nomura Holdings Inc. has also warned that investors need to prepare for the possibility that the strongest recovery of the Chinese stock market in 16 years will end, in the context of the economy being much weaker than before the COVID-19 pandemic.

Nomura economists say that in the worst-case scenario, a strong stock market rally would be followed by a crash, like what happened in 2015. This scenario is much more likely than more optimistic ones.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/quoc-te/thoi-ky-vang-cua-chung-khoan-my-chuan-bi-khep-lai/20241022090837650