The slowdown in the Chinese economy hits companies other than Caterpillar and Nvidia

The slowdown in China's growth – which was probably aggravated by the ongoing trade war between the world's two largest economies – is hitting American companies hard, experts said.

In fact, according to Gorey, the trade war "highlights a very basic truth about US-China relations".

"Both are inevitably symbiotic, they exert a tremendous influence on the global economy, so they can not separate," he said. "And the economic health of one is positively correlated with the other, so if one inflicts pain on the other, they also feel it."

In December, US President Donald Trump and Chinese President Xi Jinping agreed to end further tariff increases on their products for a 90-day period during which the two countries would continue to negotiate a trade deal.

Margaret Yang, a market badyst at CMC Markets, said Caterpillar and Nvidia's forecasts painted a darker picture for the record-breaking season. More than 100 S & P 500 companies are expected to publish earnings, including Apple, Microsoft, Amazon and Facebook.

"The trade and growth uncertainties surrounding the markets in recent months have begun to materialize and Trump's radical trade policy has had an adverse economic impact even for US companies," said Yang in a note. .

Goldman Sachs in a note on Friday warned its customers against companies generating large revenues from China. In addition to Nvidia, he also called Broadcom, Micron Technology, Qualcomm, Qorvo, Skyworks Solutions and Wynn Resort.

China announced last week that its economic growth rate in 2018 was 6.6%, its slowest pace since 1990. JP Morgan wrote in a report in January that the economic slowdown would likely continue in 2019.

Haibin Zhu, chief economist for China and director of China's equity strategy, Haibin Zhu, said in the bank's report, Haibin Zhu.

Zhu, who warned that the trade war could even lead to "non-tariff actions," sounded pessimistic about the future of US-China relations.

"In the long run, it is unlikely that China and the United States will regain their past relationship.The negative impact on trade, business incentives and the acceleration of the relocation of the chain of The world's supply could be deferred because of the temporary truce, "he said.