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Why Cruise Line Stocks Plunged Today

TheMotleyFool

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Why Cruise Line Stocks Plunged TodayPhoto, wide shot, wide-angle lens, Coal company, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/0e838f13-fa33-4583-92e9-bf3375dacf70.png

The value of cruise line stocks plunged on Monday as investors weighed multiple headwinds heading the industry's way. Not only are oil prices spiking, but there's also concern that Russia's invasion of Ukraine could sink consumer discretionary spending on things like cruises.

Carnival Corporation's (NYSE: CCL) (NYSE: CUK) shares fell as much as 6.9% in trading today, Norwegian Cruise Line Holdings (NYSE: NCLH) dropped 7.9%, and Royal Caribbean Cruises (NYSE: RCL) fell 7.4% at one point. The three cruise stocks are down 5.9%, 7.4%, and 6.7% respectively at 1 p.m. ET.

Image source: Getty Images.

Source Fool.com

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