Shares of Booking Holdings (BKNG) declined 4% on Wednesday. This drop aligned with a broader downturn across the travel-related stock sector.
The sell-off was triggered by news of a U.S. government freeze on processing certain visas.
Investors reacted to concerns that the visa suspension could negatively impact international travel to the United States. The policy change specifically affects individuals seeking permanent residency and work authorization in the U.S.
Other major travel companies also saw significant stock price drops, including Tripadvisor and Airbnb.