Trucking, Transport stocks dive as AI jitters ripple

Dsv A/S

12/02/2026 20:59

** Shares of trucking and logistics firms taking a hit on Thurs as fears spread around disruption from artificial intelligence

** Dow Jones Transportation Average .DJT, falling from record levels, recently off ~4% and on track for its worst day since last Apr when President Donald Trump announced his "Liberation Day" tariffs

** The transportation industry is the latest victim as investors are discovering that the AI landscape is not just fertile ground for stocks -- it is also a minefield

** 17 of the 20 DJT components are in the red, with logistics firms Landstar System LSTR.O and C.H. Robinson CHRW.O the biggest decliners, down 17% and 14%, respectively

** The rout on Thurs appears to have been triggered by Algorhythm Holdings RIME.O, which said its SemiCab unit boosted customers' freight volumes by 300%-400% "without a corresponding increase in operational headcount"

** RIME shares jumped more than 80% in the session to as high as $1.51. They were last up ~33%

** Prior to Aug, RIME's main business was selling karaoke machines. It sold that business to Stingray Music in Aug and changed its name to Algorhythm, from The Singing Machine Company

** Other stocks getting clipped on the session include: RXO RXO.N 20%, Expeditors International of Washington EXPD.N 13% and J.B. Hunt Transportation Services JBHT.O 5%

** The carnage also traveled across the pond to Europe: Swiss firm Kuehne + Nagel KNIN.S shed 13% and Denmark's DSV A/S DSV.CO lost >10% on Thurs

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))