Why Shares of Carnival, Royal Caribbean, Delta, and Southwest Plummeted Today
Another day, another massive stock sell-off in response to the SARS-CoV-2 coronavirus. In trading today, the Dow Jones Industrial Average dropped 3.1%, the Nasdaq Composite was nearly as bad with a 2.8% decline, and the broader S&P 500 fell right in the middle, closing 3% lower.
As we saw on Monday, some of the worst damage was suffered by stocks tied to travel and tourism. By the time markets closed Tuesday, cruise lines Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL) were down 5.1% and 7.3%, respectively. Delta Air Lines (NYSE: DAL) declined 6.1%, and investors showed no love for Southwest Airlines (NYSE: LUV) , which was down 8.2%.
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Source Fool.com
