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How China's Slowdown Is Biting Into U.S. Corporate Profits

By Shoshanna Delventhal Updated Jan 28, 2019 4 minutes U.S. companies' long-held fears about an economic slowdown in China have become a reality. The downshift of the world's second-largest economy has turned from a boon into a liability for many public companies, and now is biting into financial results at companies such as Caterpillar Inc. ( CAT ), Nvidia Corp. ( NVDA ) PPG Industries Inc. ( PPG ), H.B. Fuller Co. ( FUL ), Stanley Black & Decker Inc. ( SWK ) and ON Semiconductor Corp. ( ON ). More companies are likely to follow the same trend as the the fourth-quarter earnings season unfolds. More important, the negative impact of China's slowdown is expected to persist long after any deal to end the US-China trade war materializes. The latest and most tangible sign was the announcement on Monday that the China slowdown has hurt results of both chipmaker Nvidia and construction equipment giant Caterpillar. Caterpillar, for e