Canadian National Railway Co. stock fell the hardest in over four years after quarterly revenue slipped past expectations, sending investors scrambling.

The drop reflects broader North American trade uncertainty that clouds freight volumes and pricing power. CN’s earnings miss highlights how even a dominant rail operator feels the ripple of weakened cross‑border commerce.

Analysts now weigh the company’s ability to shore up margins through cost discipline and network upgrades. The sharp slide underscores the sensitivity of commodity‑heavy rail stocks to macro signals, prompting a reassessment of risk in the sector.

CN’s market cap has contracted by roughly 5% since the earnings release, a swing that will test shareholder confidence in the coming weeks.