Shares of Danish shipping titan Maersk (MAERSK-B.CO, AMKBY) tumble Thursday morning after the company halted share buybacks and issued a muted 2024 outlook. Maersk pointed to threats to vessel routing through the Red Sea as justification to pause repurchases and adopt a cautious forecast.

Yahoo Finance's Seana Smith and Brad Smith break down the details.

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Editor's note: This article was written by Angel Smith