Travel and leisure stocks fall sharply, while haven assets like gold tick higher
The Dow Jones Industrial Average slipped 31 points, or 0.2%, to 17592. The S&P 500 declined 0.1%, while the Nasdaq Composite added 0.3%.
The Stoxx Europe 600 initially fell more than 1.3% in morning trade before paring losses to 0.5%
Travel and leisure stocks fell sharply after explosions hit Brussels’ international airport and a subway station near European Union institutions. Belgian officials shut down the entire public transport network in Brussels and immediately raised the terror alert across the country to its maximum level. Shares in Air France-KLM and Thomas Cook Group PLC fell about 4%.
In the U.S., travel and leisure stocks were among the biggest laggards in the S&P 500. Cruise operator Royal Caribbean Cruises dropped 3.9%, while competitor Carnival fell 3%. Delta Air Lines shares fell 2.1%, while American Airlines Group dropped 1.6%.