Why Shares of Airlines and Vacation Operators Are Falling Today
Shares of travel stocks, including airlines and cruise operators, plunged Monday following news over the weekend that the coronavirus is spreading rapidly in countries such as South Korea and Italy. Among airlines, American Airlines Group (NASDAQ: AAL), Delta Air Lines (NYSE: DAL), and Spirit Airlines (NYSE: SAVE) were hit particularly hard, as were cruise operators Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL).
Marriott International (NASDAQ: MAR) also fell nearly 5% on worries about what the outbreak will mean for travel and vacation demand.
The cruise business has been one of the consumer-focused industries hardest-hit by the coronavirus outbreak, with the Carnival-owned Diamond Princess cruise ship quarantined for two weeks in Japan after more than 600 people tested positive for the virus. Those are the sort of headlines and images that can weigh on the minds of travelers planning summer vacations.
Source Fool.com
