US airline stocks fall after Jefferies downgrade

Shares of major North American airline carriers fall in after Jefferies downgrade
Delta Air Lines DAL.N leading losses with 5.1% decline, while Southwest Airlines LUV.N down 2.8% American Airlines AAL.O down 3.9% and United Airlines UAL.O falls 4.8%

Jefferies downgrades AAL and DAL to "hold" from "buy", while cuts LUV to "underperform" from "hold"

Brokerage says corporate and consumer sentiment to remain soft due to macro uncertainty
Brokerage also downgrades Air Canada AC.TO to "underperform" from "hold"