US companies are likely to cut capex plans by $900 billion (4 per cent of gross domestic product), trim spends on buybacks and mergers & acquisitions (M&As) by around $600 billion (3 per cent of GDP).
Though estimates for FY18 have been slashed by 40%, analysts expect more downgrades in 3-6 months
In aftermath of demonetisation, plus other uncertainties, investors might have to lower their earnings expectations for FY17 and FY18