Goldman Lowers S&P 500 Forecast, Cuts Year-End Target to 4,900

The logo of Goldman Sachs is displayed in their office located in Sydney, Australia, on May 18, 2016. David Gray/Reuters

Goldman Sachs Group Inc. strategists have lowered their S&P 500 forecast for this year.

They have cut their year-end target for the S&P 500 benchmark index to 4,900 points, down from 5,100 points previously.