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Why Cruise Line Stocks Sank Ahead of the Fed's Announcement on Wednesday

Why Cruise Line Stocks Sank Ahead of the Fed's Announcement on Wednesday

In fact, travel industry stocks in general were falling, despite the market overall climbing slightly. Carnival (NYSE: CCL) dropped by as much as 6.2% in early trading, Royal Caribbean Cruises (NYSE: RCL) slid by 7.2%, and Norwegian Cruise Line (NYSE: NCLH) fell as much as 4.9%. The Federal Open Market Committee is expected to announce another 75-basis point increase in the benchmark federal funds interest rate Wednesday afternoon, but that's not all the market is looking at.