Key Takeaways Goldman Sachs analysts have cut their projection for S&P 500 growth this year.They cited uncertainty around Trump's tariffs and other economic growth factors as reasons for the recent market sell-off.

Goldman's chief US equity strategist lowered his year-end price target for the S&P 500, but said there's a path to recovery for stocks.

Goldman Sachs is gearing up for its annual workforce reduction, with plans to trim between 3% and 5% of its employees, marking a shift in timing for the firm's regular personnel cuts. Unlike previous years, when these layoffs typically occurred in the second half of the year, this round is expected to take place in the spring.