Why Carnival Stock Fell Today
Shares of Carnival (NYSE: CCL)(NYSE: CUK) fell by 2.3% in trading Monday as much of the travel industry seemed to react to a slowing Chinese economy and manufacturing data that was much worse than expected due to ongoing supply chain disruptions.
Although it's not directly related to cruise ships and tourism stocks, a weakened Chinese economy could have ripple effects globally, much as the logjams at shipping ports are opening large cracks in the U.S. supply chain. As such, issues in China could unsettle the U.S. economy, and domestic consumers who are more concerned about their pocketbooks will be less likely to want to take cruises.
Image source: Carnival.
Source Fool.com
