Why Shares of Expedia Tumbled Today
Shares of online travel company Expedia (NASDAQ: EXPE) slumped on Monday as the coronavirus outbreak that originated in China accelerated its spread to other countries, raising fears about a downturn in demand for travel. As of 12:45 p.m. EST, Expedia stock was down 7%.
The death toll from the coronavirus outbreak has surpassed 2,400 in China, and supply chains and travel have been severely disrupted. Outside of China, the situation is escalating. South Korea has confirmed 750 cases of the virus, with the government warning that its economy could take a hit from the outbreak. In Italy, at least 140 cases and three deaths have been confirmed, and the Italian government has imposed a quarantine on certain towns.
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Source Fool.com
