"In the context of the last 10 years of corporate profits, we're seeing numbers now that match up with recessionary times," said Christine Short, a senior manager at S&P Capital IQ in New York.
Companies in the Standard & Poor's 500 index are expected to report that earnings declined by an average of 2.1 percent during the last three months, according to research by Thomson Reuters. Of those companies, 88 have issued "negative guidance" - signaling their profits will land below expectations.
It's just more evidence that the global economy has a way to go to a full recovery.
