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%.
