An all-out trade war poses a risk to S&P 500 earnings - Goldman Sachs

A full-blown US-China trade war poses a risk to S&P 500 earnings through falling export revenues and increased input costs for American companies, according to Goldman Sachs.

If "tensions spread" and a 10 percent tariff is imposed on all US imports, then Goldman Sachs would lower its 2019 EPS estimate by 15 percent to $145 a share, according to CNBC.