CSX - Kansas City Southern falls on report Biden to target railroads in executive order

rlesyk/iStock Editorial via Getty Images Kansas City Southern (KSU), which is being sold to Canadian National Railway (CNI), dropped 6.1% on a report that the Biden administration is pushing regulators to evaluate consolidation and anticompetitive pricing in the railroad and ocean shipping industries. CNI fell 1.9%. The Biden administration is expected to release an executive order this week that with ask the Surface Transportation Board and the Federal Maritime Commission to try to combat what it calls a "pattern of consolidation and aggressive pricing" that had made it more expensive for American companies to transport goods, according to a WSJ report. The executive order comes as the Surface Transportation Board is tasked with deciding if it will allow Canadian National's planned acquisition of Kansas City Southern.  Recall that CNI outbid Canadian Pacific (CP) for KSU. Also watch CSX Corp. as analysts/investors have speculated that CSX could be the next target in the

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Kansas City Southern falls on report Biden to target railroads in executive order