Wall Street’s main indexes hit two-month lows on Friday after a warning from the head of FedEx about a looming worldwide recession.
The benchmark S&P 500 fell below the 3,900 mark, seen by many traders as a key support level, stoking speculation that there could be more selling in equity markets. As of mid-Friday, the Dow Jones fell more than 300 points.
Shares of FedEx plunged 22.9 percent and were on pace for their worst day on record after the company said a global demand slowdown accelerated at the end of August and predicted that it would worsen in the November quarter….