Monday was a rough day all around on Wall Street but particularly painful for owners of ocean shipping stocks, which fell much more sharply than the broader market. Concerns over China’s economy, oil demand, Fed tightening and inflation added up to one of the worst trading sessions of the year for shipping names. From tankers to dry bulk to containers, double-digit plunges were widespread.
Even so, ocean shipping stocks — generally micro-cap equities traded by retail investors — are still outperforming the broader equity indexes and domestic transport stocks year to date (YTD).
