The travel sector was by far the weakest segment in the S&P 500 on Monday after Israel was attacked by terror group Hamas. Global markets reacted as airlines faced service disruptions and a surge in oil prices threatened travel profit margins.
Delta Air Lines , American Airlines , and United Airlines all canceled flights to and from Israel’s Ben Gurion Airport outside Tel Aviv over the weekend, The Wall Street Journal reported, citing the companies. The carriers joined other international airlines from Europe and Asia in stopping or limiting service to Israel amid caution from regulators.
Delta stock was down 5.8% on Monday, with shares in American Airlines falling 5.6% and United stock dropping 6.2%. European airline stocks also were under pressure, with Air France-KLM shares falling 7.5% and Deutsche Lufthansa sliding 4.2%. The U.S. Global Jets ETF , an exchange-traded fund tracking the airline industry, fell 3.9%, on track for its worst day since March.
Indeed, continuous-contract futures for U.S. benchmark West Texas Intermediate crude jumped more than 4% to $86.50 a barrel on Monday, with analysts eyeing two possible implications for oil prices from the situation in Israel.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »