On Monday, Citi analysts revised their recommendations for US stocks, downgrading them from a “neutral” to an “overvalued” stance due to growing recession concerns. The report, released after market close, coincided with significant declines in major indices – the Nasdaq dropped by 4% and the S&P 500 fell by 2.7%, marking the steepest single-day declines in recent history. These developments reflect evolving expert views on both the US and Chinese equity markets.