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Tumbling Avis shares lead in dragging down Dow Transports

A passenger boards an Avis shuttle bus at the Los Angeles International Airport.
Patrick T. Fallon | Bloomberg | Getty Images

Avis 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, which fell nearly 2 percent overall today. Other transportation companies like Norfolk Southern Corporation, Matson and CSX traded down 3 percent or less intraday.

Hertz, 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