[JPMorgan Lowers S&P 500 Forecast Due to Oil Price Shock Increasing Recession Risks] BlockBeats News, March 20: JPMorgan has lowered its year-end target for the S&P 500 index from 7500 points to 7200 points, citing the surge in oil prices driven by the Iran conflict, which has heightened the risk of an economic recession. The bank warned that the market might be underestimating the impact of rising energy costs on the economy. While investors are focused on inflation, JPMorgan believes that consumer demand faces a greater threat, which could weaken economic growth. Historically, oil price surges of over 30% have often led to demand contraction and frequently served as a precursor to recessions. In the short term, the S&P 500 index may decline further, especially after breaking below the 200-day moving average—a bearish signal. If the sell-off continues, the index could find support around the 6000-6200 point range. Although JPMorgan still expects an economic recovery later this year, supported by investments and stimulus measures, the extent of the recovery may be more limited due to persistent geopolitical risks.