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More Troubles in the skies

Travel Stock Hammered

With the new COVID-19 variant out travel stock tumble as outlined by Statista:

While the world was holding its breath, waiting for new information on the latest, possibly more dangerous strain of COVID-19 that was discovered last week, markets reacted nervously on Friday. Stock prices sank and safe haven assets rallied amid fears that the Omicron variant could spark new virus surges and rattle the fragile economic recovery.

Investors betting on a swift recovery of the battered tourism sector were closest to hitting the panic button on Friday, as governments around the world promptly imposed travel restrictions in an effort to contain the spread of what the WHO has classified as a variant of concern. While the travel bans so far mainly affect travel from South Africa, where Omicron was first identified, cases are popping up across the globe, making further travel restrictions likely if the strain turns out to be as dangerous as initially feared.

Travel Stocks Crumble Amid Omicron Fears
by Felix Richter, Nov 29, 2021