Wall Street Braces for Souring Corporate Earnings Amid Trade War
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US stocks reeling from the impact of President Donald Trump’s tariffs face another big test starting later this week: corporate earnings. And they’re not looking good.
Investors have already chopped more than $5 trillion off the value of companies in the S&P 500 Index over the last three sessions as they fret that an escalating trade war risks slashing profits. Across Wall Street, analysts are echoing that gloomy take as worries mount that the economy is headed for a recession.