George Glover
Tourism stocks were sliding on Tuesday after three airlines warned that demand for travel will drop amid worries about the health of the U.S. economy.
Shares in the short-term rental marketplace Airbnb dropped 4% ahead of the opening bell, while online travel agent Expedia fell 3.3%.
Theme-park owners and cruise-line operators were also taking hits. Walt Disney stock slid 2%, Royal Caribbean stock was down 3.7%, and shares of Norwegian Cruise Line Holdings tumbled 6.9%.
The selloff came after the airlines Delta Air Lines, American Airlines Group, and Southwest Airlines cut guidance for the current quarter, citing weaker consumer confidence. President Donald Trump's tariffs have led to forecasters souring on the U.S. economy in recent weeks, amid worries that the levies could trigger a flare-up in inflation and drag down growth.
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
March 11, 2025 08:56 ET (12:56 GMT)
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