With companies having started posting third quarter results amid a slowing economy, some money managers are paying close attention to one part of corporate balance sheets: Cash levels. US companies have been seeing their cash levels drop, a sign that high inflation and a slowing economy are taking a toll and could make it harder for some corporations to meet their obligations. Quarterly cash balances for companies in the S&P 500 index fell 14% to about $1.9tn in the second quarter from a year earlier, excluding financial companies, according to a Bloomberg analysis. Amazon Inc and Meta Platforms Inc, experienced some of the biggest decreases in the most recent periods they’ve reported for.
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