This week's biggest winners and losers in the stock market.
On this episode of Stock Movers, we look at some of the week's biggest gainers and decliners:
- US airline stocks, like United Airlines (UAL) and Southwest (LUV) slipped into a bear market as Wall Street warns that the war in the Middle East threatens to dramatically squeeze profits by driving up fuel costs. The S&P Supercomposite Airlines Industry Index closed down 4.1% on Friday afternoon, extending a skid into a sixth day. The group is down over 22% from a multi-year high marked just last month. A decline of 20% or more from a peak is defined as a bear market. The sharp decline in shares stems from the Iran conflict, which has caused the prices of jet fuel to surge.
- Cruise lines like Carnival (CCL) and Norwegian Cruise Line (NCLH) also saw shares fall this week on concerns over disruptions stemming from the conflict in the Middle East.
- ServiceNow (NOW) was among a few software stocks that saw gains this past week.
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