The US markets tumbled on Monday as investors grow concerned that skyrocketing oil prices will fuel already high inflation in the US, in addition to the war in Ukraine and US imposed sanctions on Russian companies, possibly impacting US businesses. Visa and Mastercard fell yesterday after the companies announced the suspension of services and operations in Russia over the weekend. A spotlight on US-based airlines as investors sold out of the sector on Monday amid fears of the rising cost of oil causing an increase in fuel cost for airlines. Investors also fear the war in Ukraine will decrease demand for travel. United Airlines fell 15%, American Airlines lost 12% and Delta Airlines shed 12.72%. TikTok and Netflix have joined the growing list of corporations exiting Russia, with Russians no longer able to access Netflix and live streaming and new content is suspended on TikTok in Russia.
VIDEO: US airlines fell on rising cost of fuel & geopolitical tensions in Ukraine
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