US Railroad Giant Stock Plummets 5%... Over $10 Billion Vanished in a Day

Union Pacific Corp. (NYSE: UNP) shares plunged 5.54% on the New York Stock Exchange, closing at $251.07. The company’s market capitalization now stands at roughly $149 billion, wiping out about $7.8 billion—some KRW 10.6 trillion—in a single trading day.

In May, the board voted to maintain the quarterly dividend at $1.38 per share, setting the record date at May 29 ahead of the June 30 payout. In the first quarter, Union Pacific posted revenues of $6.217 billion and net income of $1.701 billion, up 3% and 5%, respectively, from the same period last year. Management presented these results and details of its proposed $85 billion merger with Norfolk Southern at Wall Street conferences and investor events on May 20–21.

Union Pacific is one of North America’s largest freight railroads, operating an extensive network across 23 western U.S. states to transport grain, fertilizer, chemicals, automobiles and containerized freight. Founded in 1862 as part of the original Transcontinental Railroad, the Omaha, Nebraska–based company is regarded as critical infrastructure supporting the U.S. supply chain.