Pandemic-fueled spending spree threatens stock market, warns JPMorgan

US consumers have spent all of their excess savings from the pandemic, according to a note by JPMorgan’s Marko Kolanovic. This depletion of savings is one factor contributing to the declining stock market. Along with this, Kolanovic warns of other concerning trends, including deteriorating profit margins, high interest rates, and less incentive for stock buyback programs. This article will delve into the details provided in the note and explore the potential implications for the US economy.