Travel Stocks Drop As New Variant Shakes The Industry

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Airbnb, Expedia as well as airline stocks slumped after South Africa raised the alarm over Omicron, a new fast-spreading strain of the coronavirus.

The new variant has triggered concern that travel restrictions and other restrictions could undermine the international economic recovery as the world closes its doors to travelers from South Africa, Mozambique, Namibia, Lesotho, Eswatini, Zimbabwe, Malawi, and Botswana.

Expedia, which was already having one of the worst performances in the Standard and Poor’s 500S, fell as

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