Why Royal Caribbean Stock Is Falling Today
Shares of Royal Caribbean Cruises (NYSE: RCL) were down by 7.7% as of 12:40 p.m. ET on Friday as the major market indexes continue to tumble on intensifying recession fears following this week's Federal Reserve actions.
The central bank raised interest rates by 75 basis points for the third consecutive time and promised more such increases would be coming as it tries to tame rampant inflation. Because it's simultaneously continuing its policy of quantitative tightening -- or selling its vast portfolio of U.S. Treasuries accumulated during its decade-plus of quantitative easing -- that promises difficult times for the economy and the stock market.
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Source Fool.com
