Tourists filled Seattle hotel rooms this summer but with a recession looming, will business travelers return? Read More...
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Why Travel Stocks Tanked Today
Travel stocks had a terrible time on Tuesday, continuing Monday’s rough start to the week. Investors are wobbling between bearishness and bullishness about the economy, and an International Monetary Fund (IMF) report didn’t help matters. Shares of MGM Resorts (NYSE: MGM) fell as much as 4.9% in early trading, Wynn Resorts (NASDAQ: WYNN) slumped 10.5%, Airbnb (NASDAQ: ABNB) dropped 6.7%, and Trip.com (NASDAQ: TCOM) plunged 14.9%.
