U.S. travel industry stocks plunged Monday over investor worries about surging oil prices and concerns about how Russia’s ongoing invasion of Ukraine could impact European travel plans.<\/p>\n
In the airline sector, the US Global Jets fund dropped 11.1%. United’s stock took the biggest dive among the four largest airlines, declining 15%. Delta stock was close behind, losing 12.8% of its value. American was down 12% and Southwest was down 8.6%. <\/p>\n
In the cruise sector, Norwegian Cruise Line Holdings was down 11.6%. Carnival Corp. stock ended the day down 9.9%. Royal Caribbean Group was down 9%.<\/p>\n
The price drops extended to large hotel companies as well.\u00a0 Hyatt was down 9.3%. Marriott International ended Monday down 7%. Hilton was off 6.2%. InterContinental Hotels Group stock lost 4.8% of its value.<\/p>\n
In the rental car sector, Avis stock sank 7.1%. Hertz was down 5.1%.<\/p>\n
Travel sector declines stood out even on an overall ugly day for the markets. The Dow Jones dropped 797 points, or 2.4% Monday, while the S&P 500 was off 3% and the Nasdaq Composite slumped 3.6%.<\/p>\n<\/p>\n