We're looking at you $FDX.
The 13.9% plunge in FedEx Corp.'s stock FDX, -13.58% is the main reason the Dow Jones Transportation Average DJT, -1.85% is tumbling 170 points, or 1.6%; that is much worse than the performance of its sister index the Dow Jones Industrial Average DJIA, -0.30%, which lost 56 points, or 0.2%.
FedEx stock's price drop of $24.07, following disappointing quarterly results and a lowered full-year outlook, accounted for about 147 points of the Dow transports' price decline. Add the $2.52, or 2.1% decline in United Parcel Service Inc. shares UPS, -1.67% in sympathy, and the FedEx-related selloff was shaving 162 points off the Dow transports.
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