Many financial experts are changing their positive outlook on the US stock market due to the recent market turmoil caused by President Trump's tariff announcements. The rapid sell-off has led to a significant reduction in year-end forecasts for the stock market in 2025.

Oppenheimer's chief investment strategist, John Stoltzfus, recently adjusted his year-end S&P 500 target from 7,100 to 5,950. Stoltzfus, who was initially very optimistic at the beginning of the year, explained in a statement that recent market reactions and declines in stock prices necessitate a reconsideration of expectations.

Several financial institutions, including Goldman Sachs, RBC Capital Markets, Barclays, Evercore ISI, and Yardeni Research, have also revised their year-end S&P 500 forecasts downward. The negative trend in futures linked to major indexes suggests more losses in the market, causing a pessimistic sentiment among investors.

Julian Emanuel from Evercore ISI reduced his S&P 500 year-end target to 5,600 from 6,800 following the significant market decline. The uncertainty in policies has led to increased asset volatility, which could potentially lead to stagflation or a recession, according to Emanuel.

The recent developments have shifted the outlook of some equity strategy teams from positive to negative regarding the S&P 500 performance in the current year. Analysts warn that persistent uncertainty can have adverse effects on consumer confidence and economic indicators, ultimately impacting growth. Lori Calvasina from RBC Capital Markets also cut her year-end S&P 500 target to 5,550 due to the market conditions.