Goldman Throws In The Towel: “The Bull Market Is Ending”; Cuts S&P Target To 2,450

In short, JPMorgan came this close to admitting a recession is on deck.

Now it’s Goldman’s turn. In a note published early on Tuesday morning, Goldman’s chief equity strategist David Kostin writes that “after 11 years, 13% annualized earnings growth and 16% annualized trough-to-peak appreciation, we believe the S&P 500 bull market will soon end.”