UBS: The U.S. stock market has not yet hit bottom, and the S&P 500 index may drop another 8%.

Odaily Planet Daily news: The chief strategist of UBS Investment Bank stated that the "obviously fatigued" American consumers are likely to further pressure stock prices, potentially causing the S&P 500 index to drop another 8%. Bhanu Baweja noted that indicators such as employment expectations, spending outlook, and consumer confidence are all flashing warning signals. As analysts lower their profit expectations for the next three to four months, he predicts that the S&P 500 index could fall to as low as 5,300 points.