What happened<\/p>\n
Another day, another massive stock sell-off in response to the SARS-CoV-2 coronavirus. In trading today, the Dow Jones Industrial Average dropped 3.1%, the Nasdaq Composite was nearly as bad with a 2.8% decline, and the broader S&P 500 fell right in the middle, closing 3% lower. <\/p>\n
As we saw on Monday, some of the worst damage was suffered by stocks tied to travel and tourism. By the time markets closed Tuesday, cruise lines Carnival(NYSE:CCL) and Royal Caribbean (NYSE:RCL) were down 5.1% and 7.3%, respectively. Delta Air Lines (NYSE:DAL) declined 6.1%, and investors showed no love for Southwest Airlines (NYSE:LUV), which was down 8.2%.<\/p>\n
Image source: Getty Images.<\/p>\n
But didn't we already know all there was to know about the scale of the coronavirus outbreak Monday? Apparently not.<\/p>\n
As the crisis escalates, Johns Hopkins University's website tracking the disease's progress remained hobbled Tuesday, unable to fully configure data on global cases of COVID-19 (the illness caused by SARS-CoV-2). <\/p>\n
And on Tuesday, the Centers for Disease Control and Prevention (CDC) issued a stark warning: It is \"inevitable\" that the disease will spread throughout the United States. The virus is not contained, it said, and \"It's not a question of if this will happen, but when this will happen, and how many people in this country will have severe illnesses.\" <\/p>\n
Although it was certainly not its intention to do so, I doubt the CDC could have phrased its message in a way more calculated to cause panic than if it had tried. And the agency then proceeded to urge businesses to begin planning to consider replacing in-person meetings with telework, The Washington Post reported. Schools are being urged to consider internet-based learning, and hospitals are to prepare for triage.<\/p>\n
Under these circumstances, the idea of being cooped up aboard ships at sea or inside sealed aluminum tubes in midair translates into bad news for cruise lines and airlines alike.<\/p>\n
As Senator Richard Shelby, the Alabama Republican, said today: \"I think the American people are very concerned and should be. I'm concerned.\"<\/p>\n
And the stock market is, too.<\/p>\n
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See original here:<\/p>\n
Why Shares of Carnival, Royal Caribbean, Delta, and Southwest Plummeted Today - Motley Fool<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" What happened Another day, another massive stock sell-off in response to the SARS-CoV-2 coronavirus. Continue reading