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FedEx loses $2bn amid warnings of further Chinese uncertainty

Company reports huge quarterly drop as Asia slowdown slams international business

PALO ALTO, U.S. -- Parcel delivery company FedEx reported on Tuesday a net loss of $1.97 billion for the March-May quarter, as the U.S. company's international business slumped, most notably in the Asia-Pacific region amid trade tensions that continue to weigh on the Chinese economy.

China has been key to FedEx's regional growth but the U.S.-China trade spat is making markets nervous about the company's prospects.

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