Goldman Sachs warns coronavirus could wipe out corporate earnings growth for 2020
By Alexander Bolton - 02/27/20 11:09 AM EST
Goldman Sachs, a leading investment bank, is warning investors that the coronavirus may bring corporate earnings growth to a standstill in 2020, echoing other predictions that the virus could put a big dent in the U.S. economy ahead of the presidential election.
“U.S. companies will generate no earnings growth in 2020,†David Kostin, Goldman’s chief strategist for U.S. equities, wrote in a memo to clients Thursday.
Kostin informed clients that Goldman has updated its earnings model for the stock market to “incorporate the likelihood that the virus becomes widespread.â€
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https://thehill.com/policy/finance/484932-goldman-sachs-warns-coronavirus-could-wipe-out-corporate-earnings-growth-for
