Transport Stocks See Worst Week Since April on Tariffs, Reports
A freight train crosses into El Paso, Texas, on an international railroad bridge at the US-Mexico border in Juarez, Chihuahua state, Mexico, in April.
Photographer: Justin Hamel/BloombergTransportation stocks saw their worst week since President Donald Trump’s trade war kicked into high gear in April, after a slew of earnings reports indicated continuing challenges ahead.
The Dow Jones Transportation Average — which includes stocks of companies such as truckers, parcel carriers, railroads and airlines — fell 7.7% this week, its worst performance since the market panic of early April. All but one of the index’s 20 stocks finished in the red, and industry heavyweights including United Parcel Service Inc. and Old Dominion Freight Line Inc. posted double-digit declines. It all came as investors parsed through new tariffs Trump unveiled this week.