MESA - These Travel Stocks Are Leading the Nasdaq Down
The stock market took a hit on Tuesday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) wasn't able to avoid the downdraft. As of 3:30 p.m. EDT, the Nasdaq was down more than 1% on the day.
Most Nasdaq investors focus their attention on innovative tech companies, because they make up the market's biggest stocks and have a high profile in the investment community. On Tuesday, though, it was a different group of companies that took some of the biggest hits. That came on the heels of an upsurge in COVID-19 cases across the globe that is posing a threat to the thesis for a global economic recovery. That sentiment affected several groups of stocks on Tuesday.
Airline stocks on the Nasdaq were broadly lower on Tuesday. That included United Airlines Holdings (NASDAQ: UAL) , down 8% on the day, as well as JetBlue Airways (NASDAQ: JBLU) and American Airlines Group (NASDAQ: AAL) and their declines of 4% to 5%. Regional airline Mesa Air Group (NASDAQ: MESA) suffered a 5% hit.
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These Travel Stocks Are Leading the Nasdaq Down