Cruise Line Stocks Dragged Down by Market and Inflation Concerns

Symphony of the Seas

With the Dow Jones down more than 600 points today on inflation concerns, the stocks of the three main publicly traded cruise company continued to drop as well, despite the U.S. government announcing that it will no longer require COVID-19 testing of inbound air travelers to the United States, which is good news to the cruise industry.

Financial sources said cruise stocks continued to drop from concerns about high fuel costs, supply chain issues and labor shortages. In addition, is the impact of the Russian-Ukraine war and the potential for recession in the United States.

U.S. inflation is reported to have a hit a 40-year high of 8.6 percent as food, gas and housing costs have risen.

Carnival Corporation closed at $11.05 from opening at $11.56 this morning; Royal Caribbean closed at $45.75 from opening at $48.05 and Norwegian Cruise Line Holdings closed at $13.16 from opening at $13.50.

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