The S&P 500 Could Drop 8%. Why the Stock Market Is on Shaky Ground.

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Earnings season is about to kick off. If analysts keep lowering profit estimates, the stock market could take a sizable hit.

Third-quarter profit estimates for the S&P 500, in aggregate, fell 0.8% between Sept. 3 and Oct. 8, according to DataTrek. Companies have dealt with supply and labor shortages, hampering their ability to meet sales expectations while raising costs and lowering profit margins. Recently, higher commodity prices have added to the dimming earnings picture. 

Estimates…

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