Shares of Israeli liner operator Zim plunged 14% in New York on Friday morning trading as investors reacted to the news of a settlement in the US port strike.
The sell-off followed a similar reaction in Europe, where AP Moller-Maersk plunged as much as 8.6% in Copenhagen while Hapag-Lloyd lost 12.8% in Frankfurt.
A volatile stock
Zim is one of the more volatile shipping shares trading on the New York Stock Exchange, and it previously has seen large moves based on other geopolitical events, such as the Houthi attacks on shipping in the Red Sea.
