Reopening stocks from airlines to cruise operators are getting hammered as Delta strain drives surge of infections (CCL, DAL, AAL, NCLH, EXPE, JETS, MAR, RCL)
Summary List Placement Shares of airlines, cruise operators and other travel companies slumped Monday during a selloff set off in part on mounting cases of COVID-19 infections worldwide, highlighting concerns about recovery in the industry and in the global economy. American Airlines lost 4.4% and cruise operator Carnival fell 5.4% as part of a broader slide in US stocks that saw the Dow Jones Industrial Average plunge by more than 900 points during the session. On the Dow, airplane maker Boeing moved 5% lower. Expedia Group , the online travel bookings site which also runs Hotels.com and Trivago, gave up 2.5% and hotel chain Marriott declined 3%. Meanwhile, Carnival, Norwegian Cruise Line Holdings fell 6% and Royal Caribbean Cruises lost 4.6% after a US appeals court ruled late Saturday that cruise restrictions put in place during the pandemic could continue in Florida, according to the Associated Press. Travel stocks were hit as countries worldwide report rising infections of coronavirus from the Delta variant, which health experts say is the most transmissible strain yet.
Reopening stocks from airlines to cruise operators are getting hammered as Delta strain drives surge of infections (CCL, DAL, AAL, NCLH, EXPE, JETS, MAR, RCL)
Summary List Placement Shares of airlines, cruise operators and other travel companies slumped Monday during a selloff set off in part on mounting cases of COVID-19 infections worldwide, highlighting concerns about recovery in the industry and in the global economy. American Airlines lost 4.4% and cruise operator Carnival fell 5.4% as part of a broader slide in US stocks that saw the Dow Jones Industrial Average plunge by more than 900 points during the session. On the Dow, airplane maker Boeing moved 5% lower. Expedia Group , the online travel bookings site which also runs Hotels.com and Trivago, gave up 2.5% and hotel chain Marriott declined 3%. Meanwhile, Carnival, Norwegian Cruise Line Holdings fell 6% and Royal Caribbean Cruises lost 4.6% after a US appeals court ruled late Saturday that cruise restrictions put in place during the pandemic could continue in Florida, according to the Associated Press. Travel stocks were hit as countries worldwide report rising infections of coronavirus from the Delta variant, which health experts say is the most transmissible strain yet.