GOLDMAN SACHS LOWERED ITS S&P 500 YEAR-END TARGET TO 6,200 FROM 6,500. The cut reflects: 🔸 A reduced 2025 US GDP growth forecast to 1.7% (from 2.4%) due to expected tariff hikes. 🔸 The US effective tariff rate is projected to rise by 10 percentage points to 13%, with a possible 15-point increase in a high-risk scenario. 🔸 Higher tariffs and economic uncertainty have led to a larger equity risk premium. 🔸 Goldman also highlighted options positioning for companies sensitive to trade and tariff changes.