Norfolk stock traded as high as $288.11, but closed at $278, down 0.8%, while Union Pacific stock lost 4.5%, closing at $220.52. The S&P 500 added 0.1% and the Dow Jones Industrial Average lost 0.7%.

Norfolk Southern (NSC) has experienced a noticeable price increase of 25% over the last quarter. This robust upward movement is largely linked to the ongoing merger discussions with Union Pacific Corporation,

The combination of two large rail companies would create the first coast-to-coast network, but the deal could reduce competition.