Investors look for buys as virus fears crush travel stocks

), a bet that these carriers have better prospects of surviving a travel slowdown because they are more often used for regional and domestic trips.

The International Air Transport Association said Thursday that the coronavirus outbreak could slash up to $113 billion in airline revenues this year, an estimate more than 3 times greater than its projections from two weeks ago.Budget carrier Southwest Co , meanwhile, predicted up to a $300 million hit from first-quarter revenues.

Bond yields plunged and U.S. stock futures were down sharply on Friday morning as heightened fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as Treasuries and gold. He’s far less optimistic on a rebound in shares of cruise companies, some of which have dropped by 50% or more since the start of the year.

As soon as MSM stops creating panic , they are the ones blowing this entire story way out of proportion.

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Wall Street plunges as coronavirus slams bank, travel stocksWall Street falls more than 3% amid uncertainty of coronavirus and its economic fallout; shares of banks and travel companies pummeled TrumpSlump $APDN NEWS unseen! TINIEST FLOAT of all coronavirus stocks all other CV stocks have broken 52 week highs $APDN needs to run almost 1000% to hit its 52weekhigh of $37! News not pr'ed it's on their Twitter account this is why it hasn't taken off YET. Watch her break out AFTERHOURS Creation of crisis by the elite.
Source: Reuters - 🏆 2. / 97 Read more »