NEW YORK: A profit warning and muted outlook from package delivery company FedEx Corp is prompting some high-profile fund managers to prepare for the US-China trade war to last longer than many had originally anticipated.
Shares of the shipping company, whose business is often seen as a proxy for growth in the global economy, tumbled 13% Wednesday, a day after it said it planned to ground some planes and cut costs due to the effects of the trade war between the world’s two largest economies.
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