As the coronavirus outbreak continues to weigh on markets, Credit Suisse on Monday cut its market forecast for the year and said that earnings growth for U.S. companies will be near-zero.
"Investor perceptions surrounding the impact of the coronavirus have shifted from a supply chain disruption to a global demand shock," Golumb wrote in a note to clients Monday. The firm said that what started as a supply chain disruption has evolved into a "global demand shock," and that there's likely "further downside to stock prices over the near-term" before markets turn a corner.
The firm also cut its 2020 earnings per share forecast to $165 from $175, for a decline of about 5.7%.
Ouch folks don’t say you weren’t warned the WS White collar Taliban is going for blood..
How was this a shock to anyone?
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