Tariff turmoil prompts cloudy forecasts from U.S. companies for year ahead: report

NEW YORK, April 30 (Xinhua) -- Uncertainty continues to hang over the latest round of financial results and forecasts for U.S. companies both big and small as they try to navigate a global trade system severely shaken by a shift in U.S. policy, reported The Associated Press on Wednesday.

Tariffs and the stark shift in policy have also shaken consumer and business confidence. The U.S. economy shrank during the first quarter of the year, its first drop in three years. Consumer spending has ramped up, likely an effort to get ahead of tariffs, and companies are pulling back on hiring.