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Why Airline Stocks Are Losing Altitude Today

Why Airline Stocks Are Losing Altitude Today

The latest Federal Reserve rate hike and Fed Chair Jerome Powell's vow to do whatever is necessary to fight inflation are rippling through markets, sending shares down due to investor fears that the Fed's actions will push the economy into a recession. Travel is perhaps the ultimate big-ticket discretionary purchase, and airline stocks are tumbling as part of the broader sell-off. Shares of JetBlue Airways (NASDAQ: JBLU), American Airlines Group (NASDAQ: AAL), and United Airlines Holdings (NASDAQ: UAL) are all down as much as 5%, with shares of Delta Air Lines (NYSE: DAL), Alaska Air Group (NYSE: ALK), and Southwest Airlines (NYSE: LUV) all down 3% or more.