Airline stocks were suffering a broad selloff ahead of Monday’s open, amid a big drop in the broader stock market and as a surge of the delta variant of the coronavirus that causes COVID-19 increases fears of potential travel restrictions. The U.S. Global Jets ETF JETS, -5.23% sank 3.6% in premarket trading, putting it on track for a sixth-straight daily decline, and to extend a seven-week losing streak through Friday in which the ETF has tumbled 16.5%. Among the ETF’s components, shares of American Airlines Group Inc. AAL, -7.10% slumped 5.2% premarket, after sinking 18.6% amid a six-week losing streak; United Airlines Holdings Inc. UAL, -7.06% slid 5.1%, after tumbling 21.1% amid a 7-week losing streak; and Delta Air Lines Inc. DAL, -5.83% dropped 4.2%, after losing 13.8% amid a 5-week losing streak. Elsewhere, shares of Southwest Airlines Co. LUV, -4.57% gave up 3.8% premarket, JetBlue Airways Corp. JBLU, -5.90% declined 5.4% and Spirit Airlines Inc. SAVE, -6.07% fell 5.3%. The selloff in air carrier stocks comes as futures ES00, -1.74% for the S&P 500 SPX, -1.86% dropped 1.3%.
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