From Jaguar to Macy's, Global Gloom Spreads Across Industries
- Wave of profit warnings, plans to cut jobs in recent days
- China, trade tensions, volatility loom large over 2019
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Trade wars, China’s slowdown, erratic stock markets: The outlook is getting grimmer for an increasing number of companies across the globe.
Just Thursday, more than a half-dozen corporate giants either lowered their profit forecast, announced massive job cuts or pulled plans in the face of market volatility. American Airlines Group Inc., Jaguar Land Rover, Macy’s Inc. and BlackRock Inc. were among the biggest casualties, joining the likes of Apple Inc. and FedEx Corp. that have warned recently that the future isn’t looking as good as it did just a few weeks ago.