UPS United Parcel Service

By Dave Sebastian

Shares of three companies mentioned in a series of tweets related to China trade by President Trump are down in midday Friday trading.

FedEx Corp. (FDX), Amazon.com Inc. (AMZN) and United Parcel Service Inc. (UPS) shares slid 2.6%, 1.8% and 2.6%, respectively, as Mr. Trump earlier Friday singled out those companies in a tweet berating China after it announced retaliatory tariffs against the U.S.

"Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bringing your companies HOME and making your products in the USA," Mr. Trump said in a series of tweets. "Also I am ordering all carriers, including Fed Ex, Amazon, UPS and the Post Office, to SEARCH FOR & REFUSE, all deliveries of Fentanyl from China (or anywhere else!)."

China on Friday said it would impose tariffs on $75 billion worth of U.S. products to retaliate against U.S. moves to slap punitive tariffs on an additional $300 billion of Chinese goods.

In his tweets, Mr. Trump also lashed out against the Federal Reserve after Chairman Jerome Powell said the bank was prepared to provide more stimulus if a global economic slowdown hurts the U.S. economy but stopped short of signaling the start of a more aggressive easing campaign.

Mr. Powell has incited criticism from the president, who has called for the Fed to deploy stimulus measures typically reserved for periods when the economy is falling into a recession.

The S&P 500 declined 1.9% at midday, while the Nasdaq Composite slid 2.35%.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

August 23, 2019 12:35 ET (16:35 GMT)

United Parcel Service (NYSE:UPS)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024

United Parcel Service (NYSE:UPS)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024