From Marketwatch:
Although the impact of a Chinese economic slowdown on the U.S. is likely to be muted, Goldman Sachs is still urging investors to stay away from stocks with significant exposure to China given the country’s laggard performance so far this year.
“Shares of China-exposed U.S. companies have trailed S&P 500 by 750 basis points (-8% vs. -1%) since MSCI China Index peaked. We prefer stocks with high domestic sales,” analyst David Kostin at Goldman Sachs said in a report.