Airline Stocks Nosedive After Buffett Move

But market held steady after tech gains
By Newser Editors and Wire Services
Posted May 4, 2020 4:02 PM CDT
Airline Stocks Nosedive After Buffett Move
Several dozen mothballed Delta Air Lines jets are parked at Kansas City International Airport in Kansas City, Mo.   (AP Photo/Charlie Riedel, File)

(Newser) – Stock markets held steady Monday after gains in technology firms offset major losses in airlines following Warren Buffett's announcement Saturday that he is dumping all his airline shares. Netflix was up by 3.1% and Microsoft rose 2.45%, while Amazon, Apple, and Facebook saw smaller gains, CNBC reports. Airlines Delta, United, Southwest, and American, meanwhile, all lost 5% or more. The S&P 500 rose 12.03 points to 2,842.74. The Dow Jones Industrial Average added 26.07 to 23,749.76, and the Nasdaq gained 105.77 to 8,710.71, the AP reports. (Read more Dow Jones stories.)

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