Airline stocks suffer broad selloff as fear of omicron variant’s impact on travel spreads

Shares of airline companies took a broad beating Tuesday, as part of a selloff in the broader stock market, as fears spread that the omicron variant of COVID will negatively impact the travel industry. The U.S. Global Jets ETF sank 1.7% toward a one-year low in premarket trading. The sector tracker had tumbled 17.1% over the past three weeks through Monday. Among the more-active airline stocks in Tuesday’s premarket, American Airlines Group Inc. shed 2.1%, Delta Air Lines Inc. dropped 2.2%, United Airlines Holdings Inc. slid 2.1%, JetBlue Airways Corp. lost 1.8% and Southwest Airlines Co. gave up 1.5%. The selloff comes while futures for the S&P 500 slumped 0.9%.

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