U.S. Stocks Close Lower After FedEx Warning

U.S. stocks closed lower Friday as investors came to grips with corporate warnings that paint an increasingly dire outlook for the health of the U.S. economy.

In the past week, companies including Goldman Sachs Group Inc. prepared to cut jobs, exacerbating fears of an impending recession. FedEx cautioned late Thursday that it is closing offices to offset declining demand, and General Electric said supply-chain problems were weighing on profits.

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