Cruise stocks drop as spike in new COVID-19 cases sparks market sell-off


Inventories of cruise operators were hit hard on Monday as a surge in new COVID-19 cases in the United States and abroad sparked fears that shipping ban orders could be extended and governments overseas impose new foreclosure measures. Shares of Norwegian Cruise Line Holdings Ltd. NCLH,
fell 7.9% in morning trading, Carnival Corp. CCL,
fell 7.6% and Royal Caribbean Group RCL,
slipped 7.2%. These stocks were the second, third and fourth largest declines in the S&P 500 SPX, respectively,
components in the morning trade. Meanwhile, the S&P 500 fell 0.9%. The U.S. Centers for Disease Control and Prevention (CDC) recently extended their no-sail order until October 31, and Royal Caribbean recently said it had not been notified if the CDC had the ‘intention to extend the order again, but that was before the number of cases was reached. new daily records.


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