It was a not a good day on Wall Street for airline stocks.
In the first full trading day since President Trump issued a travel ban for seven Muslim-majority countries, airline stocks fell the most they had in three months. Airlines that fly a significant number of international routes were sold off by investors more than airlines that focus on the domestic market.
Stifel Financial Corp. analyst Joe DeNardi told Bloomberg News that investors are worried that the president’s actions will be expanded or other nations may retaliate.
“Should you see it spread or more stringent restrictions on travel into the U.S. be enforced, that’s the concern,” DeNardi said in this article.
Fort Worth-based American Airlines fell the most, down 4.37 percent, closing at $44.90 per share. It was followed by Delta Air Lines, which dropped 4.08 percent to close at $47.67, a day after the Atlanta-based airline suffered a computer outage that delayed hundreds of flights.
Delta Air Lines