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Just as the historic rally started to show signs of exhaustion, Goldman Sachs warned that the market's major buyers are now less likely to offer their support due to the uncertainty surrounding the pandemic and the political landscape. "We expect the potential risk of a viral 'second wave' and the fast-approaching US presidential election will limit a significant increase in equity exposures in the near term," David Kostin, Goldman's head of U.S. equity strategy, said in a note.
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