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Why Carnival, Norwegian Cruise Line, and Royal Caribbean Stocks Hit the Rocks Today

Why Carnival, Norwegian Cruise Line, and Royal Caribbean Stocks Hit the Rocks Today

Investors' holiday cheer received a rude interruption on Thanksgiving Day 2021: In South Africa, a new coronavirus variant is rising -- and it's terrifying investors with fears of a prolonged cruise industry recession. Shares of Carnival Corporation (NYSE: CCL) (NYSE: CUK), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) sank in quick succession as of 10:10 a.m. ET today, falling 10%, 10.2%, and 10.3%, respectively. Initially detected in South Africa, reports CNN, the virus has also popped up in neighboring Botswana and in Hong Kong (carried there apparently by a traveler from South Africa).