Where Is the Stock Market Headed Now? 14 Wall Street Pros Sound Off

Getting a handle on the stock market's direction is becoming increasingly difficult as volatility has ratcheted up and daily moves of 5% or more have become commonplace.

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Getting a handle on the stock market's direction is becoming increasingly difficult as volatility has ratcheted up and daily moves of 5% or more have become commonplace. The S&P 500 has already lost a third of its of its value from its Feb. 19, 2020, peak, and some (though not all) analysts see even lower prices ahead.

Economists and market strategists are predicting that the 2020 bear market could descend as low as 60% losses as the economic fallout from the coronavirus outbreak begins to look very, very real. Small business owners are being forced to close up shop en masse. Many U.S. manufacturers, including the "Big Three" automakers, have halted production at their North American facilities. Airlines, cruise operators and hotel owners have seen their businesses rapidly dry up. Crude oil prices are in a deep bear market.

Meanwhile, European and U.S. stimulus packages designed to back businesses and consumers alike have barely moved the needle. But those governments – and many more across the world – still are preparing even more measures to throw at the coronavirus effort.

So where does the stock market go from here? Here's what 14 Wall Street investment bankers, analysts and financial advisors had to say about what's coming for America's stocks, the economy and corporate earnings.

Data is as of March 23. Commentary provided via interviews and research reports from March 19-20, unless otherwise noted. Note that analysts can and do update their price targets and outlooks as market conditions change. This article is a snapshot of different expert views amid the current bear market.

Contributing Writer, Kiplinger.com
Ellen Chang is a freelance journalist who is based in Houston and writes articles for TheStreet and U.S. News & World Report. Chang focuses her articles on stocks, personal finance, energy and cybersecurity. Her byline has appeared in national business publications, including USA Today, CBS News, Yahoo Finance and MSN Money. She is a proud graduate of Purdue University and a lover of random acts of kindness, volunteering and cats and dogs. Follow her on Twitter at @ellenychang and Instagram at @ellenyinchang.