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Coronavirus costs cruise lines $48B in market value
How are cruise lines responding to coronavirus fears?
Cruise Planners founder Michelle Fee discusses the impact of pandemic.
Cruise line stocks crashed Thursday after President Trump banned European travel to the U.S. for 30 days to stem the coronavirus pandemic.
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Shortly after the prohibition was imposed, Princess Cruises, a unit of Carnival Corp., announced a voluntary pause in global ship operations for 60 days.
Carnival Corp., Norwegian Cruise Line Holdings and Royal Caribbean all dropped at least 20 percent Thursday. The three cruise operators have lost $47.7 billion of market capitalization since Jan. 21, the day COVID-19 was first reported in the U.S, according to Dow Jones Market Data group. Their market value had dwindled to $18.5 billion on Thursday.