Why Airline Stocks Are Falling Today
Wall Street is growing increasingly worried we are headed toward a recession, and stocks are being sold off as a result. Industries that are viewed as discretionary -- and so therefore easy to live without if consumers and businesses need to cut costs -- are getting hit harder than most.
Airlines fall on that list, and their stocks are deeply in the red on Monday. Shares of American Airlines Group (NASDAQ: AAL) and United Airlines Holdings (NASDAQ: UAL) are each down more than 9% as of midday trading, while shares of Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), JetBlue Airways (NASDAQ: JBLU), and Spirit Airlines (NYSE: SAVE) all traded down more than 5% apiece.
Brazil's Azul (NYSE: AZUL) also got caught up in the sell-off, down more than 10%.
Source Fool.com
