Tariffs Shake Earnings and Forecasts Across Multiple Sectors

Companies ranging from PepsiCo to Chipotle have lowered or withdrawn their financial forecasts, citing fresh uncertainties fueled by tariffs. Pharma giant Merck projects an extra $200 million in annual costs, and airline CEOs warn they won’t absorb rising aircraft expenses. Meanwhile, consumer-goods conglomerates like Procter & Gamble signal more price increases ahead, pointing to tariffs’ ripple effects in everyday products. Investors, already jittery from inflation and shifting demand, now grapple with corporate caution and the prospect of costlier goods.