UAL - Hot Stocks: Airlines plunge; BA hits low; VSCO drops amid retail slump; BBBY rallies; VET sets high
Concerns that high oil prices would cut into global economic growth prompted a massive stock sell-off on Monday. The Nasdaq dropped 3.6% on the session, while the S&P 500 challenged the 4,200 mark and recorded its lowest close since June. The spike in fuel costs sent airline stocks reeling. United (NASDAQ:UAL), Delta (NYSE:DAL), American (NASDAQ:AAL) and Southwest (NYSE:LUV) all posted notable declines and reached new 52-week lows. Weakness in the aviation sector also weighed on Boeing (NYSE:BA), which likewise set a fresh 52-week low. Concerns about the company's supply chain played into the retreat as well. Retail stocks represented another substantial loser during the day. Victoria's Secret (NYSE:VSCO) was a standout decliner in the sector, posting a double-digit percentage decline. Bucking the overall trend in the space, Bed Bath & Beyond (NASDAQ:BBBY) staged a massive rally on the session. The stock expanded its value by more than a third after
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Hot Stocks: Airlines plunge; BA hits low; VSCO drops amid retail slump; BBBY rallies; VET sets high