[Senior investor Jim Paulsen said that U.S. stocks may fall by 15% under triple pressure, and technology stocks may fall by 20%] October 6th, the higher the "wall of worry" faced by U.S. stocks, the faster it seems to climb. Monday's closing was only one step away from the historical high. However, in the view of Jim Paulsen, a closely watched veteran investor, the accumulated pressure from oil prices at US$100 per barrel, U.S. bond yields reaching 5%, and a strengthening US dollar have not yet had a real significant impact on the market. Paulsen said that in the past, when these three factors have combined to weigh on the S&P 500, the index has fallen as much as 15% in the subsequent three to five months. If this scenario repeats, the S&P 500 will post its first annual decline this year since 2022. He found a strong correlation between the S&P 500 and a basket of "economic and policy pressures" indicators. In this indicator, the weight of the 10-year U.S. Treasury bond yield is 50%, and the U.S. dollar and crude oil prices each account for 25%. In the past, when this measure of policy pressure rose to its current highs, the S&P 500 subsequently fell 20% to 25%. However, Paulsen said that seven of the 11 S&P 500 sectors have been sideways for a long time, so these sectors may not see such a sharp decline. But he still expects the technology sector to fall 20%.