UBS Downgrades US Stocks, Boosts Bitcoin Demand

UBS downgraded US stocks to neutral on Friday, citing a 35% valuation premium versus global peers, while Bitcoin plunged below $65,500 after intraday S&P 500 weakness. US Producer Price Index rose 0.5% in January 2026 and the US 10-year yield fell to 3.97%, driving risk-off flows; UBS still projects a year-end S&P 500 target of 7,500.