UPS and FedEx shares drop 10% after Amazon opens its supply chain to outside companies

Shares of UPS and FedEx fell 10% after Amazon announced it will open its supply chain network to other businesses through its new Amazon Supply Chain Services. This move allows companies across industries to use Amazon's logistics, including its fleet of cargo planes and warehouses, positioning Amazon as a strong competitor to traditional logistics firms. Major retailers like Procter & Gamble and 3M have already joined the program, signaling potential shifts in the logistics market landscape.