FedEx Decline Could Signal Economic Slowdown - Investopedia Packaging giant FedEx Corporation (FDX) has seen its shares drop 30 points in the past three weeks, and the stock has now lost nearly 8% since the first trading day of 2018. That's a startling turnaround for the perennial market leader, which posted double-digit percentage returns in 2016 and 2017. More importantly, this bearish price action is filling out a broad topping pattern that could eventually signal the end of its multi-year bull run. This early cyclical play and its rival United Parcel Service, Inc. (UPS) have long held reputations as canaries in the coalmine for the U.S. economy, measuring the output of American industry through their shipping habits. The addition of e-commerce in the past two decades has bolstered this long-observed correlation, raising red flags whenever these stocks underperform major benchmarks.