TCOM - Why Travel Stocks Tanked on Friday
With reports that a possibly very threatening variant of the coronavirus has been found in southern Africa (certain countries have already enacted restrictions on visits), travel stocks really took it on the chin Friday.
The two bellwether online travel agencies (OTAs), Expedia (NASDAQ: EXPE) and Booking Holdings (NASDAQ: BKNG) , were down by nearly 10% and more than 7%, respectively. Joining them in red territory were Trip.com (NASDAQ: TCOM) , with an over 4% decline; Sabre (NASDAQ: SABR) , with a nearly 13% drop; and lodging specialist Marriott International (NYSE: MAR) , down almost 7%.
Image source: Getty Images.
For further details see:
Why Travel Stocks Tanked on Friday