whammy

Western businesses, for their part, face a triple whammy when competing with China.

That confidence, however, didn’t extend to Wall Street, which zeroed in on a double whammy of Wednesday’s lower-than-expected quarterly earnings and weaker outlook for the fiscal year.

“Californians are going to be facing a double whammy: premiums going up and tax credits going away,” Altman said.

The triple whammy of lower sales, lower prices and higher incentives has also weighed on home builders’ profitability, and is expected to continue to hurt results in the coming months.

Also see: Stock market faces midweek double whammy as Fed decision collides with megacap tech earnings.