FedEx Stock Tumbles After Warning on Economic Trends

FedEx warning of a sharp drop in package deliveries set off fresh worries among investors about the outlook for the global economy, sparking a wide selloff in stock markets on Friday.

The delivery giant’s shares lost more than 20% Friday—on track for its biggest one-day drop ever—after the company said a macroeconomic slowdown had led to lower volumes of goods moving around the world in recent weeks. All three major U.S. stock indexes were lower early Friday, falling more than 1% apiece. 

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