The stock market could be in for a period of rocky trading to lower levels, as investors work through earnings season and wait for developments on trade, analysts said.

Stocks were slammed Monday in a selloff that accelerated on negative earnings news from global cyclical and chipmaker . Both companies pointed to weakness in China, feeding fears of a global slowdown.

“We‘re not making big bets for or against stocks and bonds. We‘re trying to see if this is a garden variety slowdown or if it‘s the beginning of something worse. I don‘t think any of us knows the answer to that now,” said Ed Keon, portfolio manager and chief investment strategist at QMA.

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