Travel Stocks Send Nasdaq Plunging as 10,000 Proves Short-Lived
The stock market's recent advance has impressed investors, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) has been especially remarkable. A strong bounce from lows following the COVID-19 outbreak sent the index to record highs. Yet new concerns about whether investors have been too optimistic led to a major reassessment of risk in the financial markets on Thursday, and that sent both the composite index and the Nasdaq 100 index down roughly 5%.
Over the past several months, certain stocks have been more volatile than others, regardless of which direction they're moving. In general, the higher a stock climbs during a bullish move, the harder it falls when the market turns lower. That was especially true among the Nasdaq's leading travel stocks on Thursday, as it now appears that things might not get back to normal anywhere near as quickly as many had hoped as recently as earlier this week.
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Source Fool.com
