Shares of retailers and other consumer companies fell as traders bet the travel business will be severely restricted by the impact of the Omicron variant of Covid 19.
South Africa reported a spike in Covid 19 case tallies Wednesday, spurring concerns about the infectiousness of the Omicron variant.
Shares of the U.S. Global JETS exchange-traded fund, which tracks a basket of major airlines, fell by more than 4% as traders anticipated a prolonged slowdown in ticket sales because of the latest Covid 19 concerns.
Shares of cruise line Royal Caribbean Group, a favorite pick in the "reopening trade," bets that prepandemic social norms would soon return, fell by more than 8%.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
12-01-21 1706ET
