FedEx Outlook Cut Suggests "Severe Global Recession"

FedEx shares are plunging after what Morgan Stanley called a "jarring" cut to its annual forecasts, suggesting global growth is slowing far more than most expect - in fact, the bank hinted at the possibility of a "severe recession" unfolding - and prompting expectations of an "uber-dovish hike" by the Fed.

The global logistics bellwether slashed its outlook just three months after raising the view, reflecting an unexpected and abrupt change in the company’s view of the global economy amid rising trade tensions between the U.S. and China

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