Drop in Transportation Stocks Foreshadows Weakening Economy
Economically sensitive stocks, like those of transportation and small-cap companies, are trailing the broader market, reflecting growing investor concern about a potential recession.
The Dow Jones Transportation Average, which tracks 20 large U.S. companies ranging from airlines to railroads to truckers, has underperformed the Dow Jones Industrial Average by about 8.3 percentage points since early February. Shares of Norfolk Southern Corp. , American Airlines Group Inc. and J.B. Hunt Transport Services Inc. have dropped at least 10% over the same period.
Economically sensitive stocks, like those of transportation and small-cap companies, are trailing the broader market, reflecting growing investor concern about a potential recession.
The Dow Jones Transportation Average, which tracks 20 large U.S. companies ranging from airlines to railroads to truckers, has underperformed the Dow Jones Industrial Average by about 8.3 percentage points since early February. Shares of Norfolk Southern Corp. , American Airlines Group Inc. and J.B. Hunt Transport Services Inc. have dropped at least 10% over the same period.
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