Freight brokers fall after Supreme Court ruling

Shares of freight brokers are sliding after a ruling by the U.S. Supreme Court in a case titled Montgomery v. Caribe Transport. The Supreme Court held a lower court decision that state law negligent hiring claims aren’t preempted by federal law because the states are allowed to regulate safety with respect to motor vehicles. Shares of C.H. Robinson (CHRW), RXO Inc. (RXO) and Landstar System (LSTR) are all sharply lower in morning trading following the release of the decision.