U.S. airline shares dropped Friday after oil prices jumped and flights were disrupted as fighting between Israel and Iran sparked worries of a broad and protracted Middle East conflict.
Shares of American Airlines (AAL), Delta Air Lines (DAL) and United Airlines (UAL) all finished substantially lower, with American off nearly 5%. The US Global JETS ETF (JETS), which includes several airline stocks, fell about 3.5%.
Some other travel stocks, including casino operators and cruise lines, also fell. Read Investopedia’s full coverage of today’s trading here.
According to reports, several Middle East nations had shut their airspace following the initial attacks. Among them were Iran, Iraq, Israel, Jordan, and Syria, according to Bloomberg. Israel attacked Iran’s nuclear program and military leadership, and Iran responded.
According to PYOK, a blog that covers the airline industry, Delta Air Lines and United Airlines “abruptly diverted Tel Aviv-bound flights back to the US on Thursday night” after Israel’s attacks.
This article has been updated since it was first published to include fresh share prices and context.
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