Royal Bank of Canada: There is further room for decline in US stocks.

On September 9th, Jin10 data reported that the strategists of Royal Bank of Canada's Capital Market stated that due to the influence of seasonal, emotional, and presidential election risks, the US stock market may continue to fluctuate in the short term and may further decline. The team led by Lori Calvasina wrote in a report: 'Any further damage will be controlled within a 10% pullback range.' They warned that if the concern about a hard landing escalates, there is also a risk of a panic drop of 14%-20% in the economy. Strategists point out that surprisingly, investors' sentiment and position became even more nervous last week. The recent rise of panic indicators such as the VIX index has intensified market concerns about pullback.