Why Shares of Airlines Are Down Today

Shares of airlines continued to lose altitude on Thursday, weighed down by an announcement Wednesday night that the United States was imposing a 30-day ban on flights from continental Europe in light of coronavirus concerns.

The announcement, made by President Donald Trump in an Oval Office speech to the nation, contained new restrictions but was short on details about an economic stimulus plan, sending the broader market and airlines in particular into a tailspin.

Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), and Hawaiian Airlines (NASDAQ: HA) all opened down more than 12%, shares of Delta Air Lines (NYSE: DAL) opened down 10%, and shares of Southwest Airlines (NYSE: LUV) were down more than 7% on Thursday morning.