FedEx shares sink 6% after trade challenges

News Snapshot:

FedEx shares fell on Wednesday after the logistics giant forecast current-quarter profit below expectations, pressured by U.S. tariffs and President Donald Trump’s move to revoke duty-free status on certain consumer shipments from China. Shares of FedEx were down six per cent in premarket trade, while rival UPS fell about one per cent. German peer DHL also dropped nearly two per cent. “The global demand environment remains volatile,” said CEO Raj Subramaniam during an earnings webcast, as the company failed to provide full-year earnings and revenue forecasts, pointing to uncertainties surrounding U.S. trade policies. FedEx, along with rival UPS, is seen...