Why Shares of Atlas Air Worldwide Fell Today
Shares of Atlas Air Worldwide Holdings (NASDAQ: AAWW) fell more than 15% on Wednesday, as concerns grew the global economy could fall into a recession. Atlas, one of the companies providing the cargo planes for Amazon.com's growing logistics operation, is seen by some as ill prepared for a slowdown.
Shipping companies were under pressure from investors coming into 2020 because of concerns about a slowing global economy, and those fears have only grown as the COVID-19 coronavirus has accelerated globally and slowed industrial production. The markets are growing increasingly concerned there could be a recession, causing freight volumes to fall for an extended period.
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Source Fool.com
