Jets ETF sinks toward a 1-year low as Israel-Hamas war fuels profit worries

Wall Street worries that airlines face the worst-case scenario of a prolonged Israel-Hamas war

Airline stocks were rocked Wednesday, as United Airlines Holdings Inc.’s profit warning due to the negative impact of the Israel-Hamas war cast a pall on investor sentiment.

A run-up in crude oil prices CL.1, +1.56%, which stoked concerns over rising fuel costs, added to investor concerns. The stock was also headed to one-year closing low and was in danger of the biggest one-day selloff in 16 months.“Given the projections that this will be a long war, we are looking at the lower end of the forecast range and assuming no service until at least year-end,” Becker wrote in a note to clients.Of the legacy U.S. international airlines, Raymond James analyst Savanthi Syth said United had the most capacity exposure to Tel Aviv, at 1.8% of its total.

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