Why Shares of United Parcel Service Fell Today
Shares of United Parcel Service (NYSE: UPS) fell more than 5% on Wednesday, as investors continue to fear the COVID-19 coronavirus will lead to a global economic slowdown that will eat into shipping volumes. UPS also could soon get a change in the C-suite, adding to the uncertainty surrounding the stock.
UPS and other shipping companies have been under pressure for weeks over concerns about falling shipping volumes. There was some concern about the health of the global economy even before the coronavirus outbreak, and investors are now worried the outbreak will slow economic activity in key parts of the world.
Image source: UPS.
Source Fool.com