Why Travel Stocks Are Dropping Today
TripAdvisor (NASDAQ: TRIP), Hyatt Hotels (NYSE: H), Marriott International (NASDAQ: MAR), Booking Holdings (NASDAQ: BKNG), and Alaska Air Group (NYSE: ALK) were all getting shellacked on Thursday. Each and every name on this list fell 10% or more in the opening hours of trading. As of 11:20 a.m. EDT, TripAdvisor remains down 11.1%, Hyatt 13%, and Marriott a more moderate 7.4%. Booking Holdings is off 8%, and Alaska Air 8.6%.
Image source: Getty Images.
Last night, President Trump made a televised announcement of a raft of measures designed to stabilize the American economy and protect the populace from the expanding threat of the COVID-19 coronavirus, ranging from loan support for small businesses to free coronavirus tests from the medical industry, to a 30-day ban on most immigrants and nonimmigrants traveling from many European nations.
Source Fool.com
