It is interesting that tech (Nasdaq) is the hardest hit here. The real engine of US exports for recent decades and likely to be a casualty as other countries plan their trade-war retaliation.
And that's not even taking into consideration what might happen in the domestic market should there be a real recession - consumers will cut down their consumption and that'll filter back to lower corporate earnings.
In previous economic stumbles, US exports abroad were able to buffer domestic weakness. Probably not anymore...
And that's not even taking into consideration what might happen in the domestic market should there be a real recession - consumers will cut down their consumption and that'll filter back to lower corporate earnings.
In previous economic stumbles, US exports abroad were able to buffer domestic weakness. Probably not anymore...