The trade war and China’s slowing growth are crimping American companies’ sales, from Jaguar to Macy’s
- The main industries being hammered by the gloom are airlines, cars, banking, retail, technology and industrials
Trade wars, China’s slowdown, erratic stock markets: The outlook is getting grimmer for an increasing number of companies across the globe.
Just Thursday, more than a half-dozen corporate giants either lowered their profit forecast, announced massive job cuts or pulled plans in the face of market volatility.
American Airlines Group, Jaguar Land Rover, Macy’s and BlackRock were among the biggest casualties, joining the likes of Apple and FedEx that have warned recently that the future isn’t looking as good as it did just a few weeks ago.
The year is just 10 days young. Here’s a look at the main industries affected by the current gloom:
- Transport
US airlines are facing a darkened outlook as economic uncertainty threatens demand. American Airlines’ pared estimate for a key gauge of pricing power on Thursday followed a similar move by Delta Air Lines Inc. at the beginning of the year. And that was before accounting for a partial government shutdown in the country.