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Tumbling Avis shares lead in dragging down Dow Transports

Rachel Cao

Avis (CAR) shares fell more than 7 percent Tuesday, following a report by Ally Financial that had bearish commentary on lease and used vehicle price declines.

The rental car company's declining shares provided the the biggest drag on Dow Transports (Dow Jones Global Indexes: .DJT), which fell nearly 2 percent overall today. Other transportation companies like Norfolk Southern Corporation (NSC), Matson (MATX) and CSX (CSX) traded down 3 percent or less intraday.

Hertz (HTZ), another major rental car company, also saw its shares tumbling nearly 10 percent today following the Ally report.

Avis 2017 YTD

Dow Jones Transportation 2017 YTD