- The stock price of American Airlines (AAL) fell by 3.64% in the most recent trading session. This is why.
The stock price of American Airlines (AAL) fell by over 3.64% in the most recent trading session. This is why.
Why: American Airlines got pulled into a broader market selloff as it did not have any catalysts to bring the price up.
What happened: The broader market sell-off across U.S. equity markets extended a rough weekly loss across all three major averages. Traders were especially concerned about the results from FedEx.
Raj Subramaniam, FedEx’s president and chief executive officer, cited global volumes declining as macroeconomic trends significantly worsened later in the quarter, both internationally and in the U.S. The S&P 500 fell by 0.72% on Friday while the Dow Jones Industrial Average fell 139.4 points (-0.45%) and the Nasdaq Composite fell 103.95 points (-0.9%).