Airline stocks suffer broad selloff as surge in delta variant stokes fears of potential travel restrictions

2 weeks ago 9
PR Distribution

Airline stocks were suffering a wide selloff up of Monday's open, amid a large driblet successful the broader banal market and arsenic a surge of the delta variant of the coronavirus that causes COVID-19 increases fears of imaginable question restrictions. The U.S. Global Jets ETF JETS, -4.68% sank 3.6% successful premarket trading, putting it connected way for a sixth-straight regular decline, and to widen a seven-week losing streak done Friday successful which the ETF has tumbled 16.5%. Among the ETF's components, shares of American Airlines Group Inc. AAL, -6.27% slumped 5.2% premarket, aft sinking 18.6% amid a six-week losing streak; United Airlines Holdings Inc. UAL, -6.17% slid 5.1%, aft tumbling 21.1% amid a 7-week losing streak; and Delta Air Lines Inc. DAL, -5.12% dropped 4.2%, aft losing 13.8% amid a 5-week losing streak. Elsewhere, shares of Southwest Airlines Co. LUV, -4.29% gave up 3.8% premarket, JetBlue Airways Corp. JBLU, -5.19% declined 5.4% and Spirit Airlines Inc. SAVE, -5.27% fell 5.3%. The selloff successful aerial bearer stocks comes arsenic futures ES00, -1.25% for the S&P 500 SPX, -1.57% dropped 1.3%.

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