Nothing goes up forever, and US stocks have been on an historic run since 2008. A new report from Credit Suisse Global Equity Research says the U.S. stock market run is at least going to slow to a crawl next year, and may even fall for the first time in eight years.

In the introduction to the December 2nd report, CS analyst Andrew Garthwaite and team discuss their expectations for equity markets over the next 12 months: “We reduce our weighting in equities to a small overweight, our most bearish strategic stance on the asset class in seven years (we previously had tactical downgrades in January 2013 and June 2011). Consequently, we reduce our mid-2016 target for the S&P 500 (SPY) to 2,150 (from 2,200), and introduce a 2016 year-end target of 2,150. Outside the US, we are more constructive on equities.”

Five reasons to not expect much from US stocks