- Shares of airlines, hotels, and cruise lines all traded lower Monday as China’s coronavirus spreads.
- So far, the virus has killed 80 and infected more than 2,700 worldwide.
- Global stocks and oil also slipped as the virus continues to infect more people. Safe-haven gold rose.
- Here’s how much 18 travel stocks are down in early trading on Monday.
- Read more on Business Insider.
As China’s coronavirus spreads, stocks tied to travel are taking a hit.
Shares of airlines, hotels, and cruise lines all traded sharply lower in early trading Monday as fears of a global outbreak of the mysterious virus mount. The virus, which originated in Wuhan, China, has so far killed 80 people and infected more than 2,700 worldwide. It has spread from China to multiple countries in Asia, the US, Canada, France, and Australia.
Some airlines have let customers cancel or change flights with no fee, the Wall Street Journal reported Monday. A number of companies have cancelled cruises that originate in China,Cruise Industry News reported Friday. In addition, travel agencies have been instructed to stop booking group tours, a big driver of the Chinese cruise industry, according to the report.
Global stocks and oil prices also slipped Monday morning as traders react to the viruses rapid spread, which is reminiscent of the SARS outbreak of 2003. Gold, long considered a safe haven asset, rose Monday as investors look for protection from the virus.
Here’s how much select travel stocks are down on Monday:
Stock move: -4.75% at 9:46am in New York
Stock move: -7.13% as of 9:50 am in New York
Stock move: -3.83% as of 9:49 am in New York
China Eastern Airlines
CEA (American Depositary shares)
Stock move: -6.93% as of 9:30 am in New York
China Southern Airlines
ZNH (American Depositary shares)
Stock move: -7.00% as of 9:30 am in New York
Ticker:TCOM(American Depositary shares)
Stock move: -9.25% as of 9:30 am in New YOrk
Stock move: -4.30% as of 9:30 am in New York
Stock move: -4.26% as of 9:30 am in New York
Stock move: -3.39% as of 9:30 am in New York
Stock move: -4.51% as of 9:30 am in New York
Stock move: -1.85% as of 9:30 am in New York
Hilton Worldwide Holdings
Stock move: -4.57% as of 9:30 am in New York
Stock move: -5.56% as of 9:30 am in New York
Royal Caribbean Cruises
Stock move: -6.77% as of 9:35 am in New York
Norwegian Cruise Lines
Stock move: -4.64% as of 9:35 am in New York
Stock move: -8.75% as of 9:35 am in New York
Las Vegas Sands Corp
Stock move: -9.45% as of 9:35 am in New York
MGM Resorts International
Stock move: -5.48% as of 9:35 am in New York
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