FedEx, UPS Shares Sink on ‘Watershed’ Amazon Logistics Move

A worker at an Amazon fulfillment center in Robbinsville, New Jersey.Photographer: Michael Nagle/Bloomberg

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By Matthew Griffin and Cailley LaPara

May 4, 2026 at 2:30 PM UTC

Updated on

May 4, 2026 at 8:22 PM UTC

US transportation stocks plunged Monday after Amazon.com Inc. announced expanded logistics offerings that will turn it into a major competitor for parcel carriers and air freight companies, and also impact truckers and third-party brokers.

FedEx Corp. shares fell 9.1% in their worst day in more than a year, while rival United Parcel Service Inc. dropped more than 10%. Logistics firms Forward Air Corp. and GXO Logistics Inc. suffered double-digit declines. Old Dominion Freight Line Inc., among other truckers, slid almost 7%.