Why Carnival's Shares Dropped 9.9% on Monday
Cruise line stocks had a rough start to the week as investors pondered the war between Russia and Ukraine and the economic fallout. Carnival (NYSE: CCL) closed the day down 9.9%, its low for the day.
The biggest reason for today's move was oil prices climbing because Russia's supply is more uncertain than ever. Russia supplied about 11% of the world's oil until recently, and as sanctions pile up, it's hard to see how that will continue or what country will fill the gap.
Image source: Getty Images.
Source Fool.com
