Stock Markets Sink on Cruise Ship Stock Sales; Online Travel Shares Fall

Tuesday was an off day on Wall Street, as investors hit the pause button in what has been an amazing upward move for the overall stock market in recent weeks. Losses weren’t all that significant, with the Dow Jones Industrial Average (DJINDICES:^DJI) and S&P 500 (SNPINDEX:^GSPC) losing just enough to give bullish market participants the idea that indexes are setting up for another big push higher.

Today’s stock market

Index

Percentage Change (Decline)

Point Change

Dow

(0.55%)

(158)

S&P 500

(0.63%)

(22)

Nasdaq Composite

(0.10%)

(12)

Data source: Yahoo! Finance.

Yet there were some really big losers on Tuesday, and they largely came from the travel industry. In particular, cruise ship operators saw their share prices drop significantly as the hard-hit companies got even more bad news about their immediate prospects. Meanwhile, more broadly, online travel giants like Booking Holdings (NASDAQ:BKNG) and Expedia Group (NASDAQ:EXPE) didn’t fare particularly well, either. Below, we’ll look at the factors hitting these stocks in more detail.

Taking on more water

The losses in the cruise ship industry were substantial. Royal Caribbean (NYSE:RCL) saw the biggest declines, falling 13% on the day. Norwegian Cruise Line Holdings (NASDAQ:NCLH) and Carnival (NYSE:CCL) both followed suit with drops of 8% on Tuesday.

Cruise ship in a harbor with an island and beach nearby.

Image source: Getty Images.

The industry has been in trouble for a long time. At the end of September, the Centers for Disease Control and Prevention extended the no-sail order governing U.S. cruises by a month, and many believe that the regulatory agency would have preferred to move forward more aggressively with an extension all the way through the first month of 2021.

Carnival got off to a bad start on Monday by announcing it would cancel its November cruises. Royal Caribbean and Norwegian had already taken that step. That now makes it a very real possibility that the industry won’t end up having any activity at all through the end of 2020.

The latest news sinking cruise stocks came from Royal Caribbean, which decided to cancel its Australia and New Zealand cruises through the end of the year. Moreover, the company once again turned to the capital markets for money, raising $1 billion with sales of $500 million in stock and $500 million in three-year convertible debt.

Investors have been willing to keep cruise companies afloat, providing them more cash even without firm prospects for a restart. How long that will last is anyone’s guess, but shareholders have to be losing patience with the companies and their lack of certainty about what the future will hold.

Travel sites face huge uncertainty

Elsewhere in travel, Expedia and Booking Holdings were both down more than 3%. The pains in the cruise ship industry were only one factor weighing on the online travel booking sites.

Airline earnings started coming out today, and Delta Air Lines (NYSE:DAL) had a lackluster performance that included huge losses. It’s likely that the rest of the airlines will see similar issues.

To be fair, Booking and Expedia get more of their business from

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Rebel Wilson Shares ‘Hot & Spicy’ Shirtless Photo of Boyfriend Jacob Busch from Their Mexico Vacation



a person standing on top of a sandy beach: https://www.instagram.com/p/CGP7GcIJTOG//instagram Rebel Wilson and Jacob Busch


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https://www.instagram.com/p/CGP7GcIJTOG//instagram Rebel Wilson and Jacob Busch

Rebel Wilson is soaking up the sun with boyfriend Jacob Busch!

On Monday, the Pitch Perfect star, 40, shared a photo of herself with Busch from their vacation in Mexico.

In the picture, Wilson wears dark sunglasses and a black swimsuit with a matching cover-up as she strikes a pose with her beau on the beach. Busch, whose family founded the brewing company Anheuser-Busch, can be seen sporting a pair of Budweiser swimming trunks.



a person standing on top of a sandy beach: Rebel Wilson and Jacob Busch


© https://www.instagram.com/p/CGP7GcIJTOG//instagram
Rebel Wilson and Jacob Busch

“Hot & Spicy #cabosanlucas,” she captioned the shot.



a woman wearing sunglasses standing in front of a beach: Rebel Wilson/Instagram Rebel Wilson and Jacob Busch


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Rebel Wilson/Instagram Rebel Wilson and Jacob Busch

RELATED: Rebel Wilson Cheekily Says She and Boyfriend Jacob Busch ‘Do a Lot of Exercise Together’

Over the weekend, Wilson also posted a selfie of the pair taking a walk in the sand, as well as a solo shot of her man as he lounged around in the pool.

“Great view,” she playfully quipped in one post, adding a thumbs-up emoji.



a couple of people on a beach near a body of water: Rebel Wilson and Jacob Busch


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Rebel Wilson and Jacob Busch

Video: Rebel Wilson Cheekily Reveals She and Boyfriend Jacob Busch “Do a Lot of Exercise Together” (E!)

Rebel Wilson Cheekily Reveals She and Boyfriend Jacob Busch “Do a Lot of Exercise Together”

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The actress went public with her relationship with Busch in September by sharing a sweet photo of the two boarding a helicopter alongside Helen Mirren and Kate Beckinsale. The couple made their red carpet debut shortly after when they attended the Monte-Carlo Gala For Planetary Health in Monaco.

“This is the first guy she’s met who is a match for her humor and personality. Someone who has his own life and success and isn’t intimidated by her,” a source recently told PEOPLE. “He’s entrepreneurial and they’re both very business-minded.”



Rebel Wilson et al. posing for a picture: Pascal Le Segretain/Getty Rebel Wilson and Jacob Busch attend the Monte-Carlo Gala for Planetary Health on September 24, 2020, in Monte-Carlo, Monaco.


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Pascal Le Segretain/Getty Rebel Wilson and Jacob Busch attend the Monte-Carlo Gala for Planetary Health on September 24, 2020, in Monte-Carlo, Monaco.

RELATED: Rebel Wilson’s Boyfriend Jacob Busch Calls Her ‘Beautiful’ in Sweet Instagram Comment

In addition to finding love, 2020 has seen big changes for Wilson after she declared it her “Year of Health” and began documenting her weight loss journey on social media.

Earlier this month, Wilson shared with fans that was about 6 lbs. away from her goal weight of 165 lbs.

“Happy Sunday everyone! Gearing up for a great week ahead,” she wrote in an Oct. 4 Instagram post. “This week was super busy but I got up super early 3 times (6am 😜) and went on a hike…even did a couple of 100m sprints to get the heart rate even higher (although my ‘sprint’ is probably someone else’s ‘slow jog’ 😝) but I felt proud of myself and now only 3kg’s away

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