Consumer
Delta, Airbnb Lead Travel Stock Selloff on Consumer Worries
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Travel stocks from airlines to cruise lines and online-booking sites are coming under pressure Tuesday after Delta Air Lines Inc. cut its profit forecast, deepening concern over weakening consumer demand and an economic slowdown.
Delta led losses in an S&P index tracking US airlines, with the gauge falling 2.3% to the lowest level in nearly five months. Meanwhile, Airbnb Inc. was among the worst performers in a gauge of hotels, resorts and cruise line index, which fell for a fourth day in the longest slump since early January.