Wall Street’s View on S&P 500 Profits Is Souring as Tariffs Loom
Worries over US President Donald Trump’s tariff policies spurred a selloff that has dragged the S&P 500 around 8% from last month’s record.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
Wall Street’s confidence in Corporate America’s profit engine is fraying, threatening more turbulence ahead for a badly bruised US stock market.
Though the broad outlook for corporate earnings remains strong, analysts have been steadily trimming their expectations for company results in the next 12 months. Profit forecasts for S&P 500 Index companies have seen more downgrades than upgrades for 22 of the past 23 weeks, according to Bloomberg Intelligence, the longest stretch since early 2023.