Goldman Sachs says the chance of a market pullback is increasing amid worsening Covid situation

People walk past the New York Stock exchange (NYSE) on November 30, 2020 in New York City.
Angela Weiss | AFP | Getty Images

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The stock market is set to stumble before the end of the year after its latest series of record highs, according to Goldman Sachs.

The investment firm said in a note to clients on Monday that the market may be overbought as Covid-19 cases and hospitalizations rise across the country, putting the market at risk of a pullback.

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