Trade wars, China’s slowdown, erratic stock markets: The outlook is getting grimmer for an increasing number of companies across the globe.

Last week, 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 Inc., Jaguar Land Rover, Macy’s Inc. and BlackRock Inc. were among the biggest casualties, joining the likes of Apple Inc. and FedEx Corp. that have warned recently that the future isn’t looking as good as it did just last month.

The year is just two weeks young. Here’s a look at the main industries affected by the current gloom:

Transport

U.S. 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.

Carriers also gave a darker view for 2019. FedEx Corp. cut its outlook a few weeks ago, just three months after raising it, reflecting an abrupt change in its view of the global economy. Chief Executive Officer Fred Smith cited trade tensions, especially between the U.S. and China, among its troubles, saying most of the problems he faced were due to “ bad political choices.”

Cars

If you’re looking for signs that the auto industry may be heading into another slump after an extended boom in Europe and the U.S., Thursday offered a glimpse of what may lie ahead: Within hours, Jaguar and Ford Motor Co. announced major cost-cutting programs.

As part of a broad review of its European business that could include plant closures, Ford took the most aggressive action in the region so far. Jaguar, Britain’s biggest carmaker, followed with a plan for 4,500 layoffs, about 10 percent of its global workforce. The culprits, according to Jaguar: Brexit, flagging demand for diesel-powered vehicles and a downturn in China.

Retail, Luxury Brands

The retail industry also shows signs of suffering on all continents. The challenges have different roots, but one thing’s for sure: China’s economic slowdown looms largest over luxury brands like Tiffany & Co. and Louis Vuitton owner LVMH. Tiffany said this month that its weaker-than-expected sales highlighted a “ clear pattern” of Chinese shoppers cutting back on spending when they’re overseas.

On Thursday, Macy’s and Kohl’s Corp. gave the clearest indication so far that the U.S. holiday season might not have been the smash hit some hoped for. Macy’s darker outlook and Kohl’s disappointing sales compounded concerns that rising interest rates and Chinese trade turmoil could dent consumer spending, a backbone of the U.S. economy.

The doom and gloom mirrored the situation in continental Europe and the U.K., where retailers are also grappling with uncertainty about the country’s exit from the European Union. Some companies are weathering the storm, like Tesco Plc, the U.K.’s largest retailer, which came out with solid results. Weakness was most pronounced among smaller, more focused retailers like Halfords Group Plc, which sells automotive and bicycling gear.

Finance

Asset managers are under pressure as volatility roils markets and investors have piled into funds with low fees. BlackRock was the latest company to announce a reduction in its workforce on Thursday, with a plan to dismiss 500 employees, or 3 percent globally, in the weeks ahead. That’s BlackRock’s largest headcount reduction since 2016.

AQR Capital Management, the giant quantitative fund manager run by Cliff Asness, announced job cuts last week after a year of poor performance. State Street Corp. is also trimming its workforce, according to people with knowledge of the plan. The bank is cutting 15 percent of its senior management, as it new chief executive continues with a plan to whittle management ranks.

Industrials

The erratic markets of the past weeks has started to have an impact on financial plans at big corporations. U.S. industrial giant United Technologies Corp. said Thursday it has halted the sale of its fire-safety and security business because of recent volatility. The company will focus instead on its broader plan to separate such disparate businesses as jet engines, elevators and climate controls.

Technology

The biggest gloomy surprise to greet 2019 was Apple Inc.’s sales forecast cut on Jan. 3, the first time in almost two decades that the company lowered its outlook. The company said it didn’t anticipate the magnitude of the economic slowdown in emerging markets, particularly in China. There were warning signs, as several key Apple suppliers trimmed their own estimates in the previous months. But the Apple news rippled through the industry.