Shares of Prologis (NYSE: PLD) have tumbled 40% from their peak earlier this year. "We are clearly in a volatile macro environment where ongoing inflation, steeply rising interest rates, and the war and energy crisis in Europe are pressuring the global economy, " stated Prologis CFO Tim Arndt on its third-quarter conference call. The CFO noted that "active dialogue with the majority of our customers confirms an overarching need to increase space as supply chain resiliency remains a top concern."