Barclays became the latest Wall Street firm to lower its 2019 year-end price target for the S&P 500, dropping it to 2,750 from 3,000 on Tuesday.
The big picture: Six firms have moved their guidance lower just eight days into the year. Barclays cited retail sentiment that has turned "significantly bearish," and an economic growth outlook outside the U.S. that was "not as constructive."
Yes, but: Despite the pullback, Barclays analysts did note that they still expected U.S. equities to rise overall by the end of the year. No major firm so far has revised its outlook into negative territory.