BCA Research's chief global strategist, Peter Berezin, issued a warning to clients of a potential recession looming on the horizon for the U.S. stock market. Contrary to popular belief, Berezin predicts that the economy could fall into a recession either this year or in early 2025, leading to a significant drop of 30% in the S&P 500 to 3,750. This prediction is based on the expectation of a notable slowdown in the labor market, which could impact consumer spending and overall economic growth. Berezin also anticipates a slowdown in global growth, impacting international stocks. Despite recent record highs in mid-May, the market has since seen a decline, with investors anxiously awaiting key job data. This forecast from BCA Research follows a volatile year for the market, with all three indexes experiencing fluctuations in 2023.