Why UPS, FedEx, and Other Logistics Stocks Are Crashing on Monday - Motley Fool
At-best the recovery from coronavirus disruptions seems likely to happen late in 2020.
What happened
Shares of XPO Logistics traded down more than 10%, and shares of FedEx and United Parcel Service were each down more than 5%, on Monday morning, as COVID-19 coronavirus fears continue to rattle the markets.
As the outbreak grows so does its economic implications, adding to the risk of a prolonged slowdown that will ripple through supply chains and transport companies for months to come.
So what
Another weekend full of headlines about new reported coronavirus cases spooked markets on Monday, making it clear that the crisis is far from over. As the case numbers have spread, the idea that this outbreak will only briefly affect industrial output and consumer sentiment has lost credibility, and it is increasingly looking like the ramifications of coronavirus will linger through the first half of 2020 at least.
At-best the recovery from coronavirus disruptions seems likely to happen late in 2020.
What happened
Shares of XPO Logistics traded down more than 10%, and shares of FedEx and United Parcel Service were each down more than 5%, on Monday morning, as COVID-19 coronavirus fears continue to rattle the markets.
As the outbreak grows so does its economic implications, adding to the risk of a prolonged slowdown that will ripple through supply chains and transport companies for months to come.
So what
Another weekend full of headlines about new reported coronavirus cases spooked markets on Monday, making it clear that the crisis is far from over. As the case numbers have spread, the idea that this outbreak will only briefly affect industrial output and consumer sentiment has lost credibility, and it is increasingly looking like the ramifications of coronavirus will linger through the first half of 2020 at least.
