Shares of Moller-Maersk slumped more than 8% Friday as European shipping companies fell on the conclusion of a U.S. port strike.

The end of the three-day U.S. port strike has implications for a number of transportation and shipping stocks, say analysts. Late Thursday, the International Longshoremen’s Association and the United States Maritime Alliance said they had reached a tentative agreement on wages and agreed to extend their master contract until Jan.

U.S. East Coast and Gulf Coast ports began reopening on Thursday night after dockworkers and port operators reached a wage deal to settle the industry's biggest work stoppage in nearly half a century,