Delta Tumbles Most in S&P 500 as Oil Rises on Iraq Strife
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Delta Air Lines Inc. fell the most on the Standard & Poor’s 500 Index, extending a decline among U.S. carriers, as violence in Iraq pushed oil prices to an eight-month high.
“Crude jumping up has an impact on earnings in the shorter term,” Savanthi Syth, a Raymond James Financial Inc. analyst, said today in an interview. “Longer term, hopefully they can push through fare increases to cover that.”