Shares of FedEx plunged as much as 11% in early trading on Tuesday.
The drop comes after the company missed earnings expectations for the fiscal first quarter.
FedEx lowered its profit guidance for 2020.
FedEx CEO Frederick Smith blamed the global economy and trade tentions for the slump.
The company expects its full-year earnings per share to fall between $11 and $13, falling below analyst estimates of $14.73.