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Why Airbnb Stock Was Down This Morning

TheMotleyFool

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Why Airbnb Stock Was Down This Morning: https://g.foolcdn.com/editorial/images/702047/airbnb-stay-new-york.jpg

Shares of Airbnb (NASDAQ: ABNB) were sliding today as the travel stock reacted to yesterday's interest rate hike from the Federal Reserve and hawkish commentary on ongoing rate hikes as the central bank seeks to rein in inflation.

Though there was no company-specific news out on Airbnb, the interest rate movement was enough to push the stock lower today.

As of 10:55 a.m. ET, the stock was down 6.3%, while the Nasdaq was off just over 1%.

Source Fool.com

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