Dow Transports

FedEx's Stock Plunge Sends Shockwaves Through Dow Transports

FedEx's stock plunged 10.2% in premarket trading after the company missed earnings expectations and lowered its full-year sales outlook. This drop is expected to shave about 174 points off the Dow Jones Transportation Average's price, accounting for a 1.1% decline. Combined with a decline in shares of rival United Parcel Service, the total price decline of FedEx and UPS shares would cut the Dow transports price by 201 points, or 1.25%.