Goldman Sachs Raises Alarm on Global Economic Turbulance

Goldman Sachs said the current market turbulence poses only a "modest" risk to their "optimistic" view on the global economy as much of the losses have been in the U.S. stock market due to rising bond yields and inflation worries.

"Our results are consistent with our markets team's assessment that this week's sell-off was mostly technical, not fundamental in nature," Goldman analysts wrote in a research note published late Sunday. "The history of market corrections during times of strong economic data suggests that this correction will more likely be short and shallow than long and protracted."