What's Sending Airbnb Shares Lower Today?

Airbnb Inc ABNB shares are trading lower Monday alongside several other stocks in the broader consumer discretionary sector amid overall market weakness as a rise in bond yields weighs on stocks.

The U.S. 10-Year Treasury note reached new three-year highs last week before pulling back. It's moving higher again Monday, hovering around 2.86% at time of publication. The strength comes as investors continue to assess inflationary pressures.

Investors are also preparing to assess the financial impact stemming from the Russia-Ukraine conflict as a large number of companies are set to report earnings this week. COVID-19 concerns in China could additionally be impacting travel sentiment. 

Airbnb operates the world's largest online alternative accommodation travel agency. The company also offers booking services for boutique hotels and experiences.

See Also: Mid-Day Market Update: U.S. Stocks Turn Lower; Bank of America Earnings Top Views

ABNB 52-Week Range: $129.71 - $212.58

According to data from Benzinga Pro, the stock was down 2.36% at $166.67 at time of publication.

Photo: courtesy of Airbnb.