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FedEx stock selloff would shave about 250 points off the Dow transports’ price

fedex stock selloff would shave about 250 points off the dow transports price

The selloff in FedEx Corp.’s stock FDX, -0.07% is enough, by itself, to push the Dow Jones Transportation Average DJT, -1.06% down well more than the broader stock market. The package delivery company’s stock plunged 20.0% in premarket trading following a ‘staggering’ profit and revenue warning, which puts it on track to suffer a record one-day selloff. The implied price decline would shave about 250 points off the Dow transports price, which by itself would represent a 1.9% decline from Thursday’s closing price of 13,510.73. Meanwhile, the Dow Jones Industrial Average DJIA, -0.56% futures YM00, -0.99% slumped 242 points, or 0.8%, and futures ES00, -1.12% for the S&P 500 SPX, -1.13% slid 0.9%.

Source: Marketwatch

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