Royal Caribbean Cruises Ltd (NYSE:RCL) shares are trading lower by 4.48% to $39.45. 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.
Royal Caribbean Cruises 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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Royal Caribbean is the world's second-largest cruise company.
According to data from Benzinga Pro, Royal Caribbean Cruises has a 52-week high of $98.27 and a 52-week low of $39.00.
