Why UPS Stock Is Down Today
A strong jobs report has investors questioning how soon the Federal Reserve will be able to ease its rate hiking campaign. That's creating new worries about the health of the economy heading into 2023, and sending stocks into a tailspin on Monday.
Shares of United Parcel Service (NYSE: UPS) got caught in the downdraft, down as much as 3.7% on Monday.
Through much of 2022, the market has moved based on sentiment about the Fed, and specifically about whether the central bank's rate-hiking campaign will throw the economy into a recession. UPS has largely moved with the broader markets, as the transportation giant does best when economic activity is robust and there is strong demand for shipping.
Source Fool.com
