FedEx shares slide as trade turbulence hits demand, profit forecast

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 (FDX-N) were down 6 per cent in premarket trade, while rival UPS (UPS-N) fell about 1 per cent. German peer DHL also dropped nearly 2 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,...