FedEx (FDX) fell more than 23% in morning trading after a profit warning and full-year guidance withdrawal.
A number of cost-cutting measures, including the closure of ninety office locations, were also announced by the shipping giant.
Fed Ex CEO Raj Subramaniam said in a news release that "global volumes fell as macroeconomic trends deteriorated"
Tesla (TSLA), the electric vehicle market leader, fell 2% Friday. Apple (AAPL) and Microsoft (MSFT) fell after the market opened today.
Arista Networks (ANET), DoubleVerify (DV), Palo Alto Networks (PANW), and Pure Storage (PSTG) are top stocks to buy and watch in the current market volatility.
Keep in mind, after this week's significant declines, the market's increased volatility is good reason for investors to take a more defensive stance.
The Dow Jones Industrial Average fell 1.1% and the S&P 500 1.6% after Friday's opening bell. Nasdaq fell 2% in morning trading.
In early trading, the Nasdaq 100 tracker Invesco QQQ Trust (QQQ) and the SPDR S&P 500 ETF (SPY) were down 1.8% and 1.4%, respectively, among exchange-traded funds.
Friday's 10-year Treasury yield was 3.47%. The 10-year Treasury yield reached its highest closing level since June 14 on Thursday, just missing its 11-year high of 3.48%.
Oil prices in the United States increased by more than one percent early on Friday, when West Texas Intermediate futures traded close to $86 per barrel.
When you purchase an options contract, you are given the right, but not the obligation, to buy or sell an underlying asset at a predetermined price on or before a specific date.