Why Union Pacific Stock Slumped 12% in March
Shares of West Coast railroad Union Pacific (NYSE: UNP) fell 11.7% in March, according to data provided by S&P Global Market Intelligence. There are no prizes for guessing the reason: The railroads are the veins and arteries of the U.S. economy, so when activity is impaired because of the measures taken to contain the COVID-19 pandemic, the railroads are going to see a major effect on their revenue.
Image source: Getty Images.
Indeed, a look at a chart of the share price performance of the Class 1 railroads listed on the market shows how the sector has pretty much moved down in sync with the S&P 500 in 2020.
Source Fool.com
