Global Earnings Downgrades Haven't Been This Bad in Seven Years
- Hopes fading for global profits, once seen as equity catalyst
- Forecasts are still too high for 2016, market watchers say
What to Expect for Fourth Quarter Bank Earnings
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Stocks are losing their last line of defense.
Amid a selloff that erased more than two years of gains -- about $14 trillion -- from global stocks now on the brink of a bear market, at least earnings stood as a potential bright spot. Those hopes are fading: analyst profit downgrades outnumbered upgrades by the most since 2009 last week, according to monthly data from a Citigroup Inc. index that tracks such changes.