Economy, Fedex | featured news

FedEx Corp. says the global economy is stalling, and it's going to get worse next year. A decline in global trade is shrinking earnings at the world's second-largest package delivery company. On Tuesday, FedEx said a continued slowdown in the developed world combined with high fuel prices will keep trade volumes at low levels.

FedEx scared markets in its first quarter earnings report, noting the global economy would slow and demand, particularly from Asia, would cool, putting downward pressure on the stock.

A cautious forecast from FedEx Corp. is giving investors another reason to worry about the economy. Stocks fluctuated in a tight range Wednesday after FedEx issued a weaker-than-expected profit forecast and downbeat comments about what it sees ahead for the economy.