The Dow Jones Transportation Average, often considered a bellwether ahead of the larger Dow Jones Industrial Average, suffered through its biggest-ever point drop yesterday. The Dow transports tumbled 476.37 points, or 4.4 percent, with all 20 of its components closing lower. The previous biggest-ever point decline had happened on October 10.
Many on Wall Street view the Dow Transports as a key economic indicator. That sub-index helps gauge how consumers and businesses are actually taking what companies are making.
Within the Dow Transports, the biggest drag yesterday was UPS, which sank 7.4 percent, its biggest decline since January 2015. FedEx fell by 6.3 percent, suffering its steepest decline since March 2013.