- FedEx shares dropped more than 21 percent, the company’s worst day in history, after CEO Raj Subramaniam predicted a worldwide recession.
- FedEx is viewed as a bellwether for the health of the US economy.
- “I think so,” Subramaniam said when asked if a worldwide recession was imminent. “These numbers, they don’t portend well. We are a reflection of everybody else’s business, especially the high-value economy in the world,” the FedEx CEO added.
