Why Shares of FedEx Are Falling Today

Shares of FedEx (NYSE: FDX) fell more than 4% on Monday morning, part of a broader coronavirus market sell-off. The spreading virus is likely to slow global trade, which could put FedEx's turnaround at risk.

The markets, after weeks of complacency about the impact of the coronavirus, were in risk-off mode on Monday morning after a weekend spike in illness in a number of countries, including Italy and South Korea, which raised fears that the virus will not be easily contained. The S&P 500 opened down more than 2.5%, and shares of transport companies were hit particularly hard.

Image source: FedEx.

Source Fool.com