US airline stocks lose US$4.9b on travel ban concerns

Atlanta, Georgia

IN two days, President Donald Trump's travel ban wiped out US$4.9 billion in market value for the country's biggest airlines.

The Standard & Poor's 500 airline index slumped 3.8 per cent combined on Monday and Tuesday, five times the 0.7 per cent drop in the S&P 500. American Airlines Group Inc, the world's biggest carrier, led the industry group with a 5.8 per cent decline over the two days.