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<\/p>\n(Bloomberg) — Investors should see any correction in equities as a buying opportunity, rather than signaling the start of a bear market, according to Goldman Sachs Group Inc. strategists.<\/p>\n
Although risk assets face a \u201csignificant headwind\u201d from war in the Middle East and anxiety over artificial intelligence disruption, underlying economic resilience and robust earnings growth mean the depth and extent of a pullback will be limited, the team led by Peter Oppenheimer wrote in a note.<\/p>\n
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\u201cWe see correction risks as high given current valuations, but expect this to present a buying opportunity with relatively low risk of a more protracted and deep bear market,\u201d Oppenheimer said.<\/p>\n
<\/p>\n
Global stocks have endured a turbulent start to the year, first as panic over the disruptive impact of AI on business models triggered selloffs in a number of sectors and then as war erupted in the Middle East. Even so, at the index level, the strategists noted that markets have remained broadly stable until recently, with trading marked by rapid rotation and volatility in sectors and individual stocks.<\/p>\n
A broadening out of equity returns across geographies and investing factors has led to higher-than-average valuations, with all global sectors expensive relative to their 20-year histories, the Goldman team said. Coupled with an unusually strong equity bull market led by the US, this makes equities more vulnerable to potential shocks, such as the threat to oil and gas markets from the Iran war.<\/p>\n
\u201cThe longer this uncertainty persists, or the worse it gets for energy supplies, the higher the perceived risk to growth and inflation will be,\u201d Oppenheimer said. Still, he noted that \u201cmost geopolitical shocks in recent years have not had a long-lasting impact on markets.\u201d<\/p>\n
Separately, Goldman Chairman David Solomon said at an event in Australia that he\u2019s been surprised by the \u201cbenign\u201d reaction in financial markets to the Middle East conflict, adding that it will take weeks to understand more about the situation. \u201cIt\u2019s very hard to speculate because there is so much that is unknown at this point,\u201d he said.<\/p>\n
(Updates to add comments from Goldman chairman in final section.)<\/p>\n
Most Read from Bloomberg Businessweek<\/p>\n
\u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) — Investors should see any correction in equities as a buying opportunity, rather than signaling the start…\n","protected":false},"author":2,"featured_media":514038,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[62,276,277,37175,4536,49,48,17496,203774,203773,61],"class_list":{"0":"post-514037","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-bear-market","12":"tag-bloomberg","13":"tag-ca","14":"tag-canada","15":"tag-goldman-sachs","16":"tag-perceived-risk","17":"tag-peter-oppenheimer","18":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/514037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=514037"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/514037\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/514038"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=514037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=514037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=514037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}