Shares of American Airlines plunged more than 14 per cent in morning trade on Wednesday after the company cut its second quarter profit forecast.
At 1:12 p.m. EDT, American Airlines shares were at $11.46, down 14.73 per cent.
Wall Street
US stocks dropped on Wednesday, as concerns around the timing and scale of the Federal Reserve’s interest rate cuts pushed Treasury yields higher.
At 11:51 a.m., the Dow Jones Industrial Average fell 348.51 points, or 0.90 per cent, to 38,504.35, the S&P 500 lost 32.77 points, or 0.62 per cent, to 5,273.27 and the Nasdaq Composite lost 75.58 points, or 0.44 per cent, to 16,944.30.
You are on Mint! India’s #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!
Download The Mint News App to get Daily Market Updates.
Published: 29 May 2024, 10:33 PM IST