Shares of Carnival (NYSE: CCL) (NYSE: CUK) fell 6.3% this week compared to where they closed last Friday, according to data provided by S&P Global market Intelligence , as concerns over economic woes took the helm of the cruise ship operator.
The tempest-tossed stock was buffeted this week by the prospects the Federal Reserve would continue its aggressive inflation-fighting stance and continue raising interest rates, a move that would make the cost of borrowing much more expensive for Carnival.
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Why Carnival Tumbled 6% This Week