Why Carnival Shares Hit A New 52-Week Low Today

Carnival Corp CCL shares are trading lower by 4.04% to $9.50. Shares of travel and resort companies at large are trading lower during Tuesday's trading session amid economic concerns. An economic slowdown could lead to decreased consumer spending on travel.

Carnival shares were also trading lower last week amid overall market weakness following worse-than-expected May CPI data. Rising inflation and an increase in U.S. Treasury yields have also weighed on the market.

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Carnival is the largest global cruise company.

According to data from Benzinga Pro, Carnival has a 52-week high of $29.98 and a 52-week low of $9.42.