According to Reuters, U.S. stocks dropped on Wednesday as weak results from AT&T and sour outlook from chipmakers ahead of key earnings added to growing worries about corporate profit growth and overshadowed optimism from Boeing’s raised forecast.
A slew of results this week is expected to throw spotlight on the risk of a slowdown in China, the world’s No. 2 economy, spilling beyond its borders and eating into U.S. corporate profits.