JETS ETF underperforms as airline woes mount

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The U.S. Global Jets exchange-traded fund slumped 1.3% in early trading Friday as investors sold airline stocks amid a lack of progress toward an additional coronavirus aid package. Shares of American Airlines Group, Inc. were 1.7% lower and those of United Airlines Holdings, Inc. fell 1.5% as the two companies implemented furloughs for tens of thousands of workers. House Speaker Nancy Pelosi said Friday morning that talks between Congressional Democrats and the White House would continue, in an attempt to reach an agreement on further stimulus. The JETS ETF, which has been a favorite of young retail investor traders this year, has lost nearly half its value so far in 2020.
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