Stocks fell Friday after FedEx Corp. FDX, -21.40% issued a profit warning that stirred fears of a global recession, but ended the day well off session lows. Major indexes booked large weekly losses as investors looked ahead to next week's Federal Reserve decision, which is expected to see policy makers deliver another large rate increase in an effort to get inflation under control.
The Dow Jones Industrial Average DJIA, -0.45% fell around 140 points, or 0.5%, to close near 30,822, according to preliminary figures, after dropping more than 400 points at its session low. The S&P 500 SPX, -0.72% ended 0.7% lower near 3,873, while the Nasdaq Composite COMP, -0.90% shed 0.9% to finish near 11,448. The decline left the Dow down 4.1% for the week, while the S&P 500 saw a 4.8% weekly fall and the Nasdaq slid 5.5%.
FedEx can effect the whole market with a thought 😂😂😂 crazy times..
FJB
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FedEx reports shipping slowdown and warns recession loomsFedEx sent shock waves through the markets on Friday after the company withdrew its full-year guidance and warned that a global recession is brewing. FedEx Hmm. Holidays just around the corner
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'Simply staggering.' FedEx hit with downgrades, price target cuts as warning shocks Wall Street.A warning from FedEx was dragging down the stock and global markets on Friday. as analysts struggled to grasp the economic bellwether's gloom. $AMC $APE AMC APE WHERE IS YOUR DESPERATELY MISLEADING ARTICLE ON SHORT SELLING ? WHICH HEDGEFUNDS PAID FOR THAT? Did anyone stop for 5 seconds to consider that people are just buying items in person instead of shipping them now that they aren’t under lockdown at home? 🤦♂️People are freaking out over literally nothing. Greatest case of 'covering your a55' I have seen on CNBC. Basically, FedEx has under-performed their competition for years and the outgoing CEO left a Goldilocks report for his incoming CEO. Unfortunately, a lot of people bought the FedEx lie and took a lot of the market down.
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