CSX Declines Most Since December 2008 After Coal Forecast Cuts
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CSX Corp., the biggest railroad in the eastern U.S., fell the most since December 2008 and smaller rival Norfolk Southern Corp. also tumbled after two coal companies cut their forecasts.
CSX slid $1.64, or 8.1 percent, to $18.59 at 4:15 p.m. in New York Stock Exchange composite trading while Norfolk Southern dropped $5.61, or 8.3 percent, to $61.93. Union Pacific Corp., No. 1 in the U.S. by sales, also declined.