UPS stock price amazon shipping
Markets Insider
  • Shares of the two shipping giants are down more than 5% in early trading Friday.

Shares of the two largest US shipping companies, UPS and FedEx, are tumbling after the Wall Street Journal reported that Amazon will launch a competing package delivery service known as SWA, or “Shipping with Amazon.”

UPS was down more than 6% in early trading Friday, while FedEx was off 5%.

Amazon has flirted with shipping its own packages for a while now, most recently in October 2017, when shares of UPS and FedEx fell on news of a program called “seller flex,” in which Amazon would deliver packages on behalf…