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Investors look for buys as virus fears crush travel stocks

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Wall Street will be on the lookout for any further drop in record-low bond yields as investors fret more economic damage from the coronavirus

), a bet that these carriers have better prospects of surviving a travel slowdown because they are more often used for regional and domestic trips.

The International Air Transport Association said Thursday that the coronavirus outbreak could slash up to $113 billion in airline revenues this year, an estimate more than 3 times greater than its projections from two weeks ago.Budget carrier Southwest Co , meanwhile, predicted up to a $300 million hit from first-quarter revenues.

Bond yields plunged and U.S. stock futures were down sharply on Friday morning as heightened fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as Treasuries and gold. He’s far less optimistic on a rebound in shares of cruise companies, some of which have dropped by 50% or more since the start of the year.

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As soon as MSM stops creating panic , they are the ones blowing this entire story way out of proportion.

TrumpEconomy

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