CCL - Carnival (CCL) Stock Falls 10% on Recession Fears
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- Carnival (CCL) stock is falling as macro factors affect the market.
- That includes entering a bear market with increasing inflation.
- Recession worries and rising interest rates are as worth noting.
Carnival (NYSE:CCL) stock is falling hard on Thursday as investors react to the ongoing effects of inflation and increasing interest rates on the economy.
There’s no getting around the fact that the market is going into a bear market. That has many investors fearful that a recession is on the way. This could see many investments wiped and traders are fleeing some of the most vulnerable stocks.
Carnival is among these today and it makes sense that shares are slipping. The cruise company has already been struggling throughout the pandemic for the last two years. In addition to that, the hope of increasing business this year seems to be evaporating as higher prices weigh on consumers.
While The Federal Reserve has been trying it combat increasing inflation with higher interest rates, it hasn’t worked yet. Today saw it make its biggest move with a .75% increase. That’s the largest jump in interest rates from the Fed since 1994.
And CCL is far from the only travel stock being affected by these problems. Airline stocks are falling as well today. However, airlines are also dealing with their own set of problems. That includes disruptions that could make air travel unreliable this summer.
All of this has CCl stock seeing heavy trading as of Thursday afternoon. That has more than 46 million shares of the stock on the move. For the record, the company’s daily average trading volume is roughly 38.1 million shares.
CCL stock is down 9.8% as of Thursday afternoon.
There’s more hot stock market news for traders to jump into below!
We’ve got all the hottest stock news for investors to keep up with. That includes what’s happening with Gores Guggenheim (NASDAQ:GGPI), Sidus Space (NASDAQ:SIDU), and tech stocks today. You can read about that at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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