by Wolf Richter
Declines not seen since the Financial Crisis.
With the first quarter done, the bean-counting begins. One thing is clear: Wall Street is now furiously trying to contain the damage.
Even analysts who estimate pro-forma, ex-bad-items, non-GAAP earnings that S&P 500 companies propagate to look better and that these analysts use to inflate their stock-price targets, just threw in the towel on the quarter.