Goldman Sachs analysts warn against S&P 500 stocks.

Goldman Sachs analysts stated that US stocks remain weak despite

the recent rally, particularly those linked to the S&P 500, 

due to renewed trade tensions. 

The bank stated that investors are facing a key question: whether this rally will continue.

The bank stated in a note on Tuesday that US President Trump's announcement of Emancipation Day

has raised renewed concerns about a recession in the US economy, 

shifting focus away from technology stocks.

Earnings decline: The bank also explained that in the event of a mild recession, 

the earnings of the S&P 500 index would decline by approximately 10%,

while in the event of a decline in the valuation multiple to 18 times

the price-to-earnings ratio, the index's earnings would decline by more than 20%.