FedEx CEO Prediction Of Worldwide Recession Rocks The Market

• 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.

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