Why Airline Stocks Are Down Today
The big bank failure over the weekend has investors asking serious questions about the health of the economy, and putting a large number of stocks far removed from banking under pressure.
Shares of major airlines fell on Monday morning on fears that the fallout from the failure of Silicon Valley Bank will cause the economy to weaken. JetBlue Airways (NASDAQ: JBLU) led the decline, down as much as 7.7% on Monday morning, with shares of Delta Air Lines (NYSE: DAL) and American Airlines Group (NASDAQ: AAL) down as much as 5% apiece.
Airline investors have endured a range of headwinds in recent years, starting with the pandemic and carrying through to higher fuel prices and labor shortages. But few, if any, investors were focused on what a bank failure might mean to the sector.
Source Fool.com
