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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

(This story is for CNBC Pro subscribers only).

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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