More downside for US stocksUS SPX 500 CashBLUEBERRY:SP500BlueberryThere's more downside potential for stocks, not necessarily because of the war but due to valuations and uncertainty in the market. With the 200 day moving average now looking fragile, we think there could be another 10% downside risk to the broader stock indices before some stabilisation. There are two key uncertainties for stocks: 1) Discount rates are rising, which means a higher weighted average cost of capital will put downside pressure to valuations; and 2) AI is disrupting everything, which means earnings certainty is lower and high multiples need to be wound back until investors understand how each company will handle the terminal growth factor. This is all part of a healthy market correction, in an otherwise rising long term market. The forecasts provided herein are intended for informational purposes only and should not be construed as guarantees of future performance. This is an example only to enhance a consumer's understanding of the strategy being described above and is not to be taken as Blueberry Markets providing personal advice.