Why Nio, Ford, and Lucid Stocks All Fell Today
Shares of automotive stocks were sliding today as investors across all sectors processed comments by the FedEx CEO concerning the economy.
While FedEx is a transportation stock, the company's business is largely viewed as an indicator of how the economy is doing -- and the company believes things aren't looking good.
FedEx released its first-quarter results late yesterday, showing sales and earnings fell below analysts' consensus estimates. The company withdrew its full-year guidance and announced store closures. Its CEO also believes a worldwide recession is coming.
Source Fool.com
