Norfolk Southern Falls as Profit Drop Echoes FedEx Slowdown

Norfolk Southern Corp. tumbled the most in more than three years after saying quarterly profit will fall short of analysts’ estimates as volumes dwindle at the second-largest eastern U.S. railroad.

The shares slid 9.1 percent to $66.11 at the close in New York, the biggest decline since March 2009. The rest of the North American industry also slumped on concern that the decline in shipments adds to evidence that the U.S. economic recovery is losing steam.