Citigroup warns of investor optimism, predicts 8.9% equity decline

CNBC April 1, 2024, 05:00 PM UTC

Summary: Citigroup warns of excessive investor optimism as its Levkovich Index hits euphoria levels at 0.40, above the 0.38 threshold. This sentiment model predicts a potential 8.9% decline in equities over the next year, with the S & P 500 possibly dropping to 4,780. Citigroup's U.S. equity strategist, Scott Chronert, advises caution, especially as the tech sector faces downgrades amid market shifts.

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