By Rashika Singh and Utkarsh Shetti (Reuters) -FedEx shares fell as much as 5.8% on Wednesday after the parcel delivery giant forecast first-quarter profit below Wall Street estimates and withheld its outlook for the year,

FedEx expects a $170 million financial hit this quarter due to President Trump’s trade war, after a change in tariff rules crushed demand for packages shipped to the U.S. from China. In early May, the U.

FedEx Corp. on Tuesday forecast a fiscal first-quarter per-share profit that came in shy of Wall Street’s expectations, sending shares of the package-delivery giant lower in after-hours trade.