NEW YORK (Reuters) - Investors are worried U.S. earnings growth may finally fall back to earth as turmoil in Europe and signs of a less robust Chinese economy hurt foreign support.
The euro zone's debt crisis and weakness in China have fueled investor concern that the global economy could tip back into recession, possibly dampening U.S. earnings growth at a time when the U.S. economy is still struggling to gain ground.
Overseas sales have helped U.S. companies beat earnings expectations in the last couple of years, with foreign sales totaling 30 percent on average for Standard & Poor's 500 companies.
"If the euro region is crumbling, that's going to have a tremendous negative impact" on companies like McDonald's, said Todd Schoenberger, managing director at LandColt Trading in Wilmington, Delaware.
via news.yahoo.com
