Airline stocks are getting crushed on Monday as the sector appears to be bearing the brunt of fears about Ebola and a global economic slowdown.
In afternoon trade on Monday, shares of United were down 8%, Delta was down 7%, American Airlines was down 6%, Southwest was down 5%, and JetBlue was down 5%.
It’s been a terrible couple of days for the airlines, with each of these stocks losing more than 13% over the past five trading days, with American Airlines’ 19% decline over that period outpacing peers.
A report from Bloomberg on Monday said that officials at the CDC rejected calls from some lawmakers to impose travel bans as the Ebola outbreak has spread from West Africa to the US and Europe.
On Monday, the identity of the second Ebola patient in Dallas was made public. Nina Pham, 26, is reportedly a nurse in Dallas who was caring from Ebola patient Thomas Eric Duncan at Texas Health Presbyterian Hospital.
Monday’s decline in airline stocks came after last week a number of travel companies focused on Europe, including International Consolidated Airlines, which owns British Airways, and Carnival Cruises, saw shares fall after the first case of Ebola was confirmed in Spain.
The drop in airline and travel stocks also comes amid concerns over slowing global economic growth, particularly from the eurozone.
Here’s the brutal five-day chart of some major US airlines, including Delta, American, United, Southwest, and JetBlue.
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