Profit Pessimism Rivals 2009 as Analysts Slash Forecasts: Chart

Navigating the Rocky Start to Markets in 2016

Any prospects of earnings growth reviving global equity markets are looking dim.

Cuts to profit estimates for companies worldwide outnumber upgrades by the most since 2009, according to monthly data from a Citigroup Inc. index tracking the changes. Slumping commodity prices, oil hovering near $30 and fears that China’s slowdown could be worse than expected are coming together to jeopardize one of the key supports sought to drive global equities higher after a rally of as much as 156 percent since a low in 2009.

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