Economics
FedEx Plunges Most Since 2015 as Forecast Sows Doubts on Economy
This article is for subscribers only.
FedEx Corp. shares plunged on Wednesday, after its “jarring” cut to annual forecasts and bleak commentary about European economy and global trade alarmed the market.
FedEx plunged as much as 10 percent as of 10 a.m. in New York, dropping to its lowest intraday price in two years, while shares of peer United Parcel Service Inc. fell more than 4 percent.