Biggest Stock Market Winners and Losers of the US Port Strike
- The striking of US port workers on the East and Gulf coast could impact certain stocks.
- Port workers are demanding a 61.5% raise and oppose the adoption of automation in new contract negotiations.
- Air cargo businesses like UPS and FedEx are set to benefit, while railroads and retailers face challenges.
The striking of US port workers across the East and Gulf coast on Tuesday is set to have big ramifications for the stock market if negotiations are drawn out.
Workers of the International Longshoremen’s Association saw their contract expire on Monday.
The workers are asking for a 61.5% pay raise over six years and strong language against adopting automation and AI technologies in their new contract.
