S&P 500: Deutsche Bank analysts see decline up to -24%, then recovery. Here is the year-end target

Deutsche Bank analysts have announced that they believe the S&P 500 will drop to 3,650, suffering a 24% drop due to the slowdown in the economy.

However, according to analysts of the number one bank in Germany, the US job market will not be particularly affected by the crisis, remaining solid.

Consequently, in their view, the S&P 500 index will then mark a recovery that will bring it back towards 4,700 / 4,800 at the end of the year from the current 3,923.