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.

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Source Fool.com