Online travel booker stocks fall amid growing concerns over surging COVID cases

Shares of online travel services companies were broadly lower Tuesday, with many hitting multi-month lows, as a continued surge in new COVID-19 cases fueled fears of potential travel restrictions. The ETFMG Travel Tech ETF dropped 3.5%, and has shed 7.5% amid a 4-day losing streak, putting it on track for the lowest close since Dec. 23, 2020, as 32 of 34 equity components lost ground. In comparison, the S&P 500 declined 0.9%. Among some of the ETF's online-booker components, shares of Expedia Group Inc. slid 1.7%, TripAdvisor Inc. dropped 3.0%; Despegar.com slumped 6.4% and Trivago N.V. tumbled 8.0%, all toward six-month lows, while Booking Holdings Inc. slipped 1.1%, but was above the July 19 closing low of $2,067.55. Shares of Travelzoo , which provides travel information, declined 5.3%, and Sabre Corp. , which provides travel-booking technology, lost 1.4%. Elsewhere, the U.S. Global Jets ETF shed 2.6%, and has lost 6.1% amid a four-day losing streak, while cruise operator Carnival Corp.'s stock lost 3.2%, and has dropped 8.0%, also amid a 4-day loss streak. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Online travel booker stocks fall amid growing concerns over surging COVID cases
Shares of online travel services companies were broadly lower Tuesday, with many hitting multi-month lows, as a continued surge in new COVID-19 cases fueled fears of potential travel restrictions. The ETFMG Travel Tech ETF dropped 3.5%, and has shed 7.5% amid a 4-day losing streak, putting it on track for the lowest close since Dec. 23, 2020, as 32 of 34 equity components lost ground. In comparison, the S&P 500 declined 0.9%. Among some of the ETF's online-booker components, shares of Expedia Group Inc. slid 1.7%, TripAdvisor Inc. dropped 3.0%; Despegar.com slumped 6.4% and Trivago N.V. tumbled 8.0%, all toward six-month lows, while Booking Holdings Inc. slipped 1.1%, but was above the July 19 closing low of $2,067.55. Shares of Travelzoo , which provides travel information, declined 5.3%, and Sabre Corp. , which provides travel-booking technology, lost 1.4%. Elsewhere, the U.S. Global Jets ETF shed 2.6%, and has lost 6.1% amid a four-day losing streak, while cruise operator Carnival Corp.'s stock lost 3.2%, and has dropped 8.0%, also amid a 4-day loss streak. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.