Wall Street Slashes S&P 500 Targets Amid Tariff Uncertainty | JQJO

RBC and Wells Fargo slashed their S&P 500 year-end price targets, citing President Trump's tariffs and resulting economic uncertainty. RBC lowered its target to 5,550 from 6,200, while Wells Fargo reduced its projection to 6,000 from 6,600. These revisions reflect expectations of slower economic growth and higher inflation. The S&P 500 experienced its biggest weekly drop since 2020, entering a correction, down over 13% in 2025 and 17% from its peak.