Why Airline Shares Are Falling Today

The number of COVID-19 cases is on the rise and a fresh round of government assistance from Washington is a nonstarter for now. That's causing a dreary day on Wall Street on Wednesday, with airline stocks performing worse than most.

Shares of Hawaiian Holdings (NASDAQ: HA) are leading the decline, down more than 8% as of 12 p.m. EDT, with Allegiant Travel (NASDAQ: ALGT) off by 7.6% and shares of Southwest Airlines (NYSE: LUV), Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), United Airlines Holdings (NASDAQ: UAL), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) all off more than 4% apiece.