A message from our CIO, Scott Phillips:
“G’day Fools. If you’re like us, you’re dismayed by the events taking place in Ukraine. It is an unnecessary humanitarian tragedy. Times like these remind us that money is important, but other things are far more valuable. And yet the financial markets remain open, shares are trading, and our readers and members are looking to us for guidance. So we’ll do our best to continue to serve you, while also hoping for a swift and peaceful end to war in Ukraine.”
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The Qantas Airways Limited (ASX: QAN) share price is tumbling on Friday amid escalating tensions in Ukraine.
The airline’s stock is among many S&P/ASX 200 Index (ASX: XJO) constituents falling as the index plunges to a 4-day low.
At the time of writing, the Qantas share price is $4.935, 3.42% lower than its previous close.
For context, the ASX 200 Index is currently 0.74% lower while the All Ordinaries Index (ASX: XAO) has slumped 0.85%.
Let’s take a closer look at what could be driving the flying kangaroo’s stock downwards.
Qantas share price tumbles on Friday
The Qantas share price is plunging lower as Russia’s invasion of Ukraine intensifies.
Conflict has now reached the Zaporizhzhia nuclear power plant – the largest of its kind in Europe – with fire having broken out at the site.
Posting to Twitter Inc (NYSE: TWTR), Ukraine minister for foreign affairs, Dmytro Kuleba, has called for an urgent ceasefire, saying if the plant “blows up” it will be 10 times larger than the 1986 Chernobyl disaster.
It follows overnight ceasefire talks between Russia and Ukraine that once again failed to achieve an outcome, according to reporting by ABC.
Today’s fall puts the Qantas share price 4% lower than it was at the start of 2022.
Though, it’s not the only ASX 200 travel stock to be suffering on Friday.
The share prices of Flight Centre Travel Group Ltd (ASX: FLT), Webjet Limited (ASX: WEB), and Corporate Travel Management Ltd (ASX: CTD) are currently down 2.6%, 3.4%, and 2.9% respectively.
The post Qantas (ASX:QAN) share price dives 4% amid escalating Ukraine fears appeared first on The Motley Fool Australia.
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More reading
- Qantas (ASX:QAN) share price enjoying green start to the week as Joyce says ‘we’re seeing huge demand’
- Why is the Webjet (ASX:WEB) share price having such a lousy start to the week?
- Russia invades Ukraine and the ASX tanks. Scott Phillips on Nine’s Late News
- The oil price has just hit an 8-year high. What might this mean for ASX shares?
- ASX wipes out $73 billion as Russia invades Ukraine
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Twitter. The Motley Fool Australia has recommended Corporate Travel Management Limited, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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