Reported 12 months ago
Travel-related stocks are experiencing a decline as Hurricane Beryl hits the Caribbean, leading to concerns about cruise operations and air travel in the region. The storm's potential impact on the sector's performance has caused investor worries, with particular focus on cruise lines, such as Norwegian and Royal Caribbean, experiencing significant drops in stock prices. The threat posed by the hurricane has also coincided with a rise in crude oil prices. The sector is facing pressure due to anticipated delays and cancellations, with reports suggesting potential damages of up to $1 billion.
Source: YAHOO