Futures hit two-month lows as concerns about a slowdown are stoked by a FedEx warning.
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On Friday, futures for stock indexes fell to a two-month low.
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After warnings of increases from the worldwide delivery bellwether, FedEx, investors were already concerned about the Federal Reserve's fast rate hikes.
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the economy entered a recession as a result.
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Shares of FedEx Corp. dropped 20.7% in premarket trade after the firm forecasted that the downturn in worldwide demand will deteriorate in the third quarter of 2018 and deepen in late August.
If the loss happens throughout the day, it will be the largest percentage decline for the stock in a single day.
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This would be greater than Black Monday's 16.4% decline in 1987.
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The Fed will see the FedEx report as an indication that they are on the right road, according to Cherry Lane partner Rick Meckler.
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Instead of a caution that the Fed is acting too hastily