Meanwhile, mineral mining stocks tumbled 10% last month, mostly in response to China's new efforts to cool overheating metals prices. UBS downgraded Rio Tinto later in the month on concerns that iron ore prices would remain suppressed for the foreseeable future. Take the hintJust because whole peer groups are falling, that doesn't inherently mean these pullbacks can't suddenly reverse course -- anything's possible. This sweeping, industrywide weakness suggests, however, that investors are seeing bigger and more structural problems for the mining and airline industries. Even if the sell-offs from airline and mining stocks cool off from here, there's still too much uncertainty to deem them buys.

Source: Daily Sun July 05, 2021 11:15 UTC