*Walter Bloomberg@DeItaone
BOFA: STOCK MARKET NEAR LEVEL THAT COULD SPUR POLICY ACTION
Michael Hartnett warned that if the S&P 500 drops further—around 6,600, just 1% below recent levels—it could trigger a policy response from the White House or the Federal Reserve.
Hartnett cited soaring oil prices, a protracted Iran war, and global instability as catalysts. He also flagged overbought assets like gold, semiconductors, and European stocks, while oversold sectors such as software, bank loans, and bitcoin may stabilize once policymakers act. Potential interventions could include easing tariffs, de-escalating the conflict, or Fed stimulus measures like rate cuts or bond purchases.