Bank of America (BofA) projected on the 9th that the earnings growth rate of companies listed on the New York Stock Exchange is expected to slow significantly in the third quarter, due to a slowdown in sales and a decrease in net income.

According to BofA, the market's forecast for corporate earnings growth in the third quarter of this year is a 4.7% increase compared to the same period last year. BofA pointed out that this is a noticeable deceleration compared to the 12.9% annual earnings growth seen in the second quarter of this year.