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Cruise and airline stocks suffer heavy losses

The main Wall Street indices They opened deep into negative territory on Monday and continue to push lower in the second half of the session. At time of writing, the S&P 500 Index was down 2.7% on the day to 3,372.

S&P 500 Major Changes

The sharp rise in confirmed coronavirus cases globally weighs on market sentiment and the stocks of major cruise lines and airlines.

At time of writing, Royal Caribbean Cruises Ltd (RCL: NYSE) was the largest daily decline percentage of the day, with its shares shedding 12.4% to $ 56.40. Additionally, shares of Norwegian Cruise Line Holdings Ltd (NCLH: NYSE), Carnival Corp (CCL: NYSE), Alaska Air Group Inc (ALK: NYSE) and United Airlines Holdings Inc (UAL: NASDAQ) fell between 10.3% and 8.65%. .
On the other hand, American Electric Power Company Inc (AEP: NASDAQ) has the best performance of the day after the company announced that it signed a letter of intent with BQ Energy Development to buy 100% of the purchase of Columbus Solar Park. The company further noted that it expects the solar power facility to be operational in December 2022. Driven by this announcement, AEP is up 1.6% on the day to 93.35.


Credits: Forex Street

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