The underwhelming forecast sent investors spiraling, since the company often acts as a bellwether for several other industries.

By Rashika Singh and Utkarsh Shetti (Reuters) -FedEx shares fell 5% on Wednesday after the logistics giant forecast first-quarter profit below Wall Street estimates and refrained from issuing an outlook for the year,

FedEx Corp. on Tuesday forecast a fiscal first-quarter per-share profit that came in shy of Wall Street’s expectations, sending shares of the package-delivery giant lower in after-hours trade.