Delta, Other Travel Stocks Lead S&P 500 Lower as Israel Conflict Rattles Markets

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.

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Airline stocks drop as Hamas' attack of Israel hurts travel plansDelta Air Lines says ‘security situation’ in Israel may affect travel to, from and through the area
Fuente: MarketWatch - 🏆 3. / 97 Leer más »

Airline stocks fall as the attack of Israel by Hamas ‘may impact travel’Tomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Fuente: MarketWatch - 🏆 3. / 97 Leer más »