Shares in the materials sector slid as global markets took a break from the sharp swings that marked trading since President Trump announced his tariffs package on Apr. 2.
Bank of America downgraded Dow Inc. to underperform from buy, saying the chemical company faces significant earnings headwinds from an economic slowdown and intensifying trade war that could put its rich dividend at risk.
In a note, BofA said Dow faces a "perfect storm" of softening macro, emerging barriers to trade and higher U.S. feedstock costs, and the analysts slash their 2025 and 2026 Ebitda estimates by 17% and 23%, respectively.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
April 15, 2025 17:00 ET (21:00 GMT)
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