Goldman warns of US slide

In a research note released overnight, the investment banking giant’s US chief strategist David Kostin says the S&P 500 could face a double figure slide in the near term. Kostin has heightened investor fears the credit crisis has widened well beyond banking and financial names. "Although only a few firms have reported (Q1) results, early signs are awful," the note reads. "We expected generally disappointing results and a swathe of lowered profit guidance that will drive the S&P 500 lower in coming weeks." However, the co-managers of Resolution Asset Management’s £116m American Growth fu...