Airlines have lost $16.3 billion since September 8, when the Dow Jones Industrial Average lost more than 1,500 points and the S&P 500 lost 1,100 points.
But despite the losses, airline stocks are up over 30% in the last 12 months, thanks to the economy, government spending and a weak dollar.
The Dow has more than doubled since October 2016, while the S & P 500 is up nearly 6%.
The S&P 500 is down about 2%.
The economic boom that started in the summer of 2007 is slowly being replaced by a recession.
The stock market is down more than 15% over the past three months.
The unemployment rate is about 8%.
The Federal Reserve, which has pumped trillions of dollars into the economy to revive the economy and stimulate demand, has signaled it may keep rates at near zero for a while longer.
The Fed is expected to raise rates by another $85 billion this month.
On Tuesday, the Fed also cut its key interest rate for a second time in three years, from 0.25% to 0.0% for the first time since December 2008.
The central bank has kept rates near zero since January.
The Dow is up more than 11% this year and is up 21% in 2016.
The S &s P & ;B shares index is up 1.8%.
The Nasdaq is up 3.6% and is down 3.4% over last year.
The Russell 2000 is down 1.5% and the tech-heavy Nasdaq composite is down 2.1%.
The Dow and the Nasdaq are the two biggest U.S. indexes by market capitalization, with each holding more than 100 million shares.
The Nasdaq has been up 17% over three years and the Dow has risen more than 10%.
The S&s stock index is down 4.7% in 2018, while its Dow is down nearly 14% in 2017.
The average price-to-earnings (P/E) ratio is up just 4.4%, the best gain since 2008.
The S <P stock index, the S and the P, is down just 0.5%.
The NasDAQ is down 0.4%.
The CBOE Volatility index is at an all-time low, with the average price of 10-year Treasury notes on the NYSE, which is the benchmark, now below 1,600.
The CBO’s index has declined for five consecutive months, and is now down 1% for five of the past six years.
The CBOE is down 6.4 percent in 2017 and 7.5 percent in 2016, the first three years of the recovery.
The NasDAQ, the Dow and S< P are up nearly 20% over each of the last five years.