Focus: Major global companies cut full-year forecasts, high interest rates and China's slump weigh

Major global companies have lowered their full-year earnings forecasts. The fact that high interest rates and the slump in the Chinese economy are putting pressure on consumer sentiment cast a dark shadow over the profit increase settlement for the second quarter.
Investors were disappointed with the financial results of many major companies such as McDonald's, Nissan, Tesla, Nestle, and Unilever. Approximately 40% of American and European companies announced financial results, but profits were almost as expected. However, it seems that financial results “almost as expected” have led to disappointment among investors only after global stock prices have risen drastically.