More than 30% of US companies are blaming tariffs for disappointing Q2 profits, and Wells Fargo believes it's about to get worse

as groups that will blame trade war fallout for potential trouble. Yet, he's also including them among his favorites.

"We want to be in sectors that are still sensitive to a continuation of this expansion. So, if we were to get some kind of pullbacks, we're looking at that as an opportunity," he said. "It's just the nature of these kinds of earning seasons that companies try to hang their hat on something and try to find something to blame for poor results."year-end target suggests there is more downside than upside ahead.

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Cramer to Trump: More US companies blame tariffs than the Fed for the slowing economy'I'm not hearing people blame the Fed as much as they're blaming tariffs,' says CNBC's Jim Cramer. They should be complaining that USMCA isn’t through congress yet The FED has saved your arse yet some people will never be happy. Well. That’s just bull$hit. You can’t praise the Fed when stocks go up and then blame tariffs when the Fed raised rates and stocks go down.
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