Comerica Bank’s CIO says the S&P 500 is primed for a 15% drop as weak earnings, high valuations, and a hawkish Fed all work against it

• Stocks have enjoyed an 8% rally since the start of 2023. 
• But that’s due to turn around in the second half of the year, says John Lynch.
• Lynch warns the S&P 500 will retest October lows of 3,491. 

Comerica Wealth Management’s Chief Investment Officer John Lynch says the relief that stock-market investors have seen so far this year is about to end.