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Amazon trucking expansion sparks freight stock selloff
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- Shares of several large freight carriers slumped Wednesday after Amazon announced it's opening up its trucking services to companies beyond its own network.
- Less-than-truckload refers to a service where companies carry shipments from multiple customers on a single trailer, instead of full truckloads from one customer.
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Shares of several large freight carriers slumped Wednesday after Amazon announced it's opening up its trucking services to companies beyond its own network.
The e-retailer said it will offer less-than-truckload shipping to all businesses, not just those who ship goods into its warehouses and fulfillment centers, and deliver to any destination in the U.S., as part of its nascent Amazon Supply Chain Services program.
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