Goldman Sachs has trimmed its 2025-end target for the S&P 500 Index to 6,200 from 6,500, citing increased policy uncertainty, particularly on tariffs, and worries about the economic growth outlook.

The Magnificent Seven — the group comprised of tech stocks Nvidia (NVDA), Alphabet (GOOG, GOOGL), Tesla (TSLA), Microsoft (MSFT), Amazon (AMZN), Meta Platforms (META), and Apple (AAPL) — has been relabeled as the "Maleficent" Seven by Goldman Sachs.

Goldman Sachs Group Inc. strategists lowered their target for the US equity benchmark, and lifted their view on European earnings, in a further sign of growing skepticism on the outlook for the world’s largest economy.