Shares of industrial and transportation companies fell as Amazon.com's plans to sell supply-chain services and a spike in fuel prices weighed on freight companies.
The iShares U.S. Transportation exchange-trade fund, a basket of major transportation stocks, fell by roughly 4%.
Shares of United Parcel Service and FedEx tumbled by roughly 10% apiece after the Silicon Valley giant launched "Amazon Supply Chain Solutions," which aims to provide distribution, warehousing, and last-mile delivery to "any business."
Trucking lines C.H. Robinson Worldwide and Old Dominion Freight Line also fell sharply.
Electric-equipment maker Hubbell agreed to acquire NSI Industries for $3 billion, aiming to increase its offerings of critical infrastructure to its electrical and utility customers.
Sturm, Ruger said it has entered a strategic cooperation agreement with Beretta, following a months-long and at times contentious dispute over governance, strategy and board control.
The European Union's top trade negotiator, Maros Sefcovic, is expected to meet his U.S. counterpart, Jamieson Greer, in Paris on Tuesday after U.S. President Trump said he would raise tariffs on cars from the bloc.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
May 04, 2026 16:55 ET (20:55 GMT)
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