As the reporting season for the second quarter approaches, businesses with exposure to China’s economy are on edge due to its sluggish growth. Companies such as Apple, prominent chip manufacturers, and luxury shops may feel the impact when disclosing their quarterly results in the coming weeks.
The uncertainty of economic situation is not limited to firms directly tied to China’s market. Wall Street is bracing itself for a steep drop in second-quarter U.S. earnings, affecting tech giants, luxury retailers, and chip makers alike. European companies are also facing headwinds stemming from China’s post-COVID momentum, adding to the overall concerns among investors and analysts.