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Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Got Torpedoed Today

·2 min read
Why Carnival, Royal Caribbean, and Norwegian Cruise Line Stocks Got Torpedoed Today
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As of 1:50 p.m. EDT, shares of cruise giant Carnival (NYSE: CCL) (NYSE: CUK) had shed 5%, while Royal Caribbean (NYSE: RCL) was down 4.2%, and Norwegian Cruise Line Holdings (NYSE: NCLH) was off 3.4%. During an appearance this morning at an economic seminar presented by The Atlantic magazine, Treasury Secretary Janet Yellen said, "It may be that interest rates will have to rise somewhat to make sure that our economy doesn't overheat."