Written by Liz Muir
Investing.com – U.S. stocks fell on Friday amid fears of a global economic slowdown. Here are the factors that led to midday on September 16th:
- FedEx Corporation (NYSE: 🙂 Stocks fell 22% after it cautioned about earnings, blaming lower global parcel volumes, especially in China. This will cut costs, including closing FedEx store locations and hiring freezes.
- NCR . company Shares of (NYSE:) fell 23% after the company said it would split itself in two rather than sell itself. The new companies will focus on ATMs and digital commerce products, respectively.
- Uber Technologies Inc (NYSE: 🙂 Shares of NYSE fell nearly 5% after the passenger carrier said it had had a cyber-security attack and was in contact with law enforcement.
- General Electric a company (NYSE: 🙂 Stocks fell 4% after it said supply chain issues are reducing expected cash flow.
- Adobe Systems Incorporated (NASDAQ:) Selling continued on Friday after dropping 16% on Thursday. The stock fell 4% as analysts questioned whether its $20 billion plan to buy software company Figma was too expensive.