U.S. Airline Stocks Fall as Antitrust-Probe Report Erases Rally

Justice Department to Open Airlines Antitrust Probe

U.S. airline shares tumbled, erasing an earlier gain, after the Associated Press reported that the U.S. Justice Department was investigating whether carriers were colluding to help prop up airfares.

The Bloomberg U.S. Airlines Index slid 3.6 percent, the biggest intraday drop since June 9, at 2:03 p.m. in New York. The gauge of 11 carriers rose as much as 1.7 percent earlier.