Royal Caribbean shares were down $4.29 (3.31%), closing at $125.37. RCL has traded in a range of $93.40 to as high as $135.65 in the past 52 weeks.
Norwegian Cruise Line Holdings was off $2.05 (3.47%) at $56.95. In the past 52 weeks, NCLH shares have ranged from $46.96 to $61.48.
Carnival Corp. was down $1.91 (2.73%), at $68.04. CCL shares have traded in a 52-week range of $54.75 to $72.70.
Though the economic news is generally positive around the world, financial analysts cite investor concern about the potential for rising inflation in the US, triggered by a stronger employment picture and the subsequent demand for higher wages. Also, shareholders may think stock prices have peaked and a correction is under way.
On Monday the Dow Jones Industrial Average closed down 1,175 points, a 4.6% drop, and headlines shrieked about a 'market meltdown.'
However, as MarketWatch reports, the Dow is now down just 1.5% for 2018, following a gain of 25.1% in 2017.
A healthy stock market is seen as a positive for cruising, since consumers are more likely to feel flush about spending for vacations. By all accounts, the major public companies were booked well ahead going into this year's wave season. Whether this market decline has any impact on demand for cruises depends on how long and how steep it goes.
Strong employment is good for cruising, too, and that's a plus right now.
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