• American Century Investments

The coronavirus and steps to combat it have taken a tremendous toll on the earnings power of corporate America. First-quarter earnings of the S&P 500® Index declined by approximately 14% quarter over quarter, according to FactSet. That was the largest year-over-year decline since the third quarter of 2009, which coincided with the unemployment peak in the wake of the Great Recession. What’s more, second-quarter corporate earnings are down more than 40% with roughly one-quarter of the companies i
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