U.S. transportation stocks plummeted Monday as Amazon expanded its logistics services, intensifying competition across parcel delivery, air freight, and trucking. Major players like FedEx and UPS saw significant declines, reflecting investor concerns about Amazon’s growing disruption of the traditional transportation ecosystem. The selloff occurred as the sector was nearing record highs, making it vulnerable to such a correction.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets