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The Wall Street Journal

FedEx Inventory Tumbles After Warning on Financial Developments

FedEx warning of a sharp drop in package deliveries set off recent worries amongst buyers in regards to the outlook for the worldwide economic system, sparking a wide selloff in inventory markets on Friday.

The supply large’s shares misplaced greater than 20% Friday—on observe for its largest one-day drop ever—after the corporate stated a macroeconomic slowdown had led to decrease volumes of products shifting around the globe in current weeks. All three main U.S. inventory indexes had been decrease early Friday, falling greater than 1% apiece. 

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