Cruise stocks tumble after Commerce Secretary Lutnick signals tax crackdown

Core Viewpoint - Shares of cruise lines experienced significant declines following comments from Commerce Secretary Howard Lutnick regarding potential tax crackdowns on the industry [1]. Group 1: Industry Impact - Lutnick highlighted that cruise ships do not display American flags and suggested that they do not pay taxes, indicating a potential shift in regulatory scrutiny under the Trump administration [1]. - The comments have led to a notable drop in stock prices for major cruise lines, with Carnival shares falling by 9% and Royal Caribbean shares plunging by 11% [2].