Shares of cruise operators were among the worst performers in the S&P 500 SPX, -0.57% to start 2024, after posting record yearly gains in 2023. Norwegian Cruise Line Holdings Ltd.’s stock NCLH, -8.58% fell 6.8% to lead the S&P 500’s losers, as it headed for a three-week closing low.
The stock had soared 63.7% in 2023, to break the previous record of 37.8% in 2019 by a wide margin. The S&P 500’s second worst performer was Royal Caribbean Group’s stock RCL, -7.22%, which slumped 6.6%, which puts it on track for the worst one-day performance since it sank 13.2% on Sept. 30, 2022. That comes a day after the stock ended 2023 with a 162% surge for the year, which was the best year since it went public in 1993, topping the previous record of 128.1% in 1997. Carnival Corp. shares CCL, -6.74% slid 4.8%, to be the fourth-worst performer in the S&P 500. The stock had rocketed 131% in 2023, beating the previous record of 85.8% in 1991; the stock went public in 1987.