Carnival Corp (NYSE:CCL) shares are sliding Wednesday afternoon as renewed Middle East tensions push oil prices sharply higher and pressure travel-related stocks.
Carnival stock is showing notable weakness.
Why is CCL stock dropping?
Rising Oil Prices Threaten Carnival's Profit Margins The move follows a report that President Donald Trump declared a tentative ceasefire and memorandum of understanding with Iran "over," after recent attacks on commercial vessels in the Strait of Hormuz.
Washington blamed Tehran for the attacks, launched fresh military strikes against Iranian targets and revoked a waiver allowing the sale of Iranian oil.
