BlackRock downgrades U.S. stocks, citing rising coronavirus cases and stimulus running out

Scott Mlyn | CNBC

The massive run-up in U.S. equities from the late-March lows could slow down as coronavirus cases rise at a record pace, according to BlackRock.

The asset-management giant downgraded U.S. stocks to neutral from overweight. That rating change comes after the S&P 500 soared more than 44% from an intraday low set on March 23 amid expectations of a swift economic recovery following the coronavirus-induced shutdown.