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"In an extreme case, he might be 5 or more percentage points off," Mr. Warren said.
A big change in private inventories also knocked 1.27 percentage points off growth.
If that happened again it would lop 0.5 percentage points off next year's GDP growth, reckons Artur Passos of Itaú BBA, an investment bank.
He calculated that Microsoft's weakness alone shaved three percentage points off index fund performance in 2000.
A slowing economy may cut one or two percentage points off those estimates, Mr. Fitzgerald said.
But it has also trimmed four percentage points off its ratio of compensation to revenue.
Higher taxes and federal spending cuts knocked 1.5 percentage points off growth in 2013.
They have since lopped about one and a half percentage points off both those figures.
This suggests that a 10% drop would shave some 0.6 percentage points off economic growth.
At the central bank's last monthly meeting it shaved 0.25 percentage points off the previous 1.5% rate.
According to Reuters, IMF spokesman William Murray said it would shave around 0.5 percentage points off the US growth forecast.
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