Shares of Miami-based Spirit Airlines are also down by almost half. American Airlines, which dominates traffic at MIA, has also seen shares drop by a similar amount.
Covid-19 cases outside China are growing exponentially, a startup investor noted.
Paul Graham, the founder of startup incubator Y-Combinator, wrote on Twitter that there are now 13,000 cases outside China, but the number is doubling every three days. At that rate, there could be 1.7 million cases in just three weeks.