So far, analysts have largely retained last week's expectations of a near-5% year-on-year fall in quarterly profits at S&P 500 companies, according to Refinitiv data.
"The unpredictability of earnings and revenue and guidance going forward has increased a lot," said Peter Tuz, president of Chase Investment Counsel. "You have signs that the economy is softening all over the place." Declining issues outnumbered advancing ones on the NYSE by a 1.24-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored decliners.
The S&P 500 posted 20 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 53 new highs and 186 new lows. About 9.9 billion shares changed hands in U.S. exchanges, compared with the 10.4 billion daily average over the last 20 sessions.