Aviation stocks suffer broad sell-off as delta variant surge fuels fears of potential travel restrictions

Aviation stocks suffered a broad sell-off ahead of Monday’s opening amid a major decline in the broader stock market and as a wave of the delta variant of the coronavirus causing COVID-19 has heightened fears of potential travel restrictions. The US Global Jets ETF JETS,
fell 3.6% in premarket trading, putting it on track for a sixth consecutive daily decline, and to extend a seven-week redemption streak through Friday, in which the ETF fell 16.5% . The components of the ETF include shares of American Airlines Group Inc. AAL,
premarket fell 5.2%, after falling 18.6% in a six-week loss streak; United Airlines Holdings Inc. ual,
slipped 5.1%, after a 21.1% tumble amid a 7-week loss streak; and Delta Air Lines Inc. VALLEY,
fell 4.2%, after a loss of 13.8% amid a 5-week loss streak. Elsewhere, shares of Southwest Airlines Co. LUV,
gave up 3.8% premarket, JetBlue Airways Corp. JBLU,
fell 5.4% and Spirit Airlines Inc. save,
fell 5.3%. The sell-off in airline stocks comes as futures ES00,
for the S&P 500 SPX,
fell 1.3%.