21st September, 2020
2020: No vacay for travel and tourism stocks
Travel, tourism and leisure stocks sold off on Monday as talk of renewed lockdowns amid a fresh wave of COVID-19 infections keeps investors on edge. The sector has been battered this year as the pandemic effectively brought global mobility and travel to a near halt. While MSCI’s All Country World index has recovered all losses sustained in March’s crash, the index’s sub-components for hotels, restaurants, leisure and airlines are still down on the year. The brief reprieve brought to the sectors over the summer months, when lockdown restrictions were lifted, now appears to be fading.
Chart and commentary by Ritvik Carvalho
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