Earnings Estimates Drop With Stocks First Time Since 2012

The first two months of the third quarter have been negative from many perspectives. The S&P 500 is in the midst of one of the worst corrections in history – a move that might not yet be complete. Amidst this turmoil, fundamental analysts have been, by and large, noting the strong numbers supporting their long positions as some wag their finger of disgust at algorithmic traders as causing the market sell-off. However, a report from FactSet might give those fundamentalists something to consider.

Earnings per share estimates dropping with the stock market

Analysts dropped...