Monday’s biggest losses on Wall Street were concentrated in airlines, after Berkshire Hathaway disclosed that it sold all its stakes in American Airlines Group, Delta Air Lines, Southwest Airlines and United Airlines. Berkshire Hathaway’s Buffett is one of the stock market’s most famous bargain hunters, and investors around the world parse every clue he gives about investing. Over the weekend, he said he had made a mistake in how he valued airlines. All four of the airlines lost 5.1 percent or more on Monday. Also potentially weighing on markets was Buffett saying that he’s hanging onto his cash and hasn’t made any big deals recently because he hasn’t seen any on attractive terms.-AP

Source: The Standard May 05, 2020 02:57 UTC