The moment of "uncertainty" has passed, is the US stock market facing an "earnings massacre"?

Goldman Sachs hedge fund chief Tony Pasquariello stated that the U.S. market has passed the peak uncertainty phase, but the slowdown in economic growth, as well as the magnitude and duration of the recession, have become key issues. Investors in the consumer goods sector generally believe that the industry's "E" value is too high and are confused about the performance of the market's "P" value amid rapidly declining valuations. The subdued market sentiment may indicate that positions have been adjusted, reflecting the condition of the broader U.S. stock market