Shares of cruise operator Carnival Corp
At least three people died in the accident and dozens are still missing.
Shares of Carnival's rival Royal Carribbean Cruises
Susquehanna Financial cut its rating on both the stocks to neutral from positive due to the potential impact of the tragedy on the sector.
Carnival's shares touched a near three-month low of $29.23 in morning trading on the New York Stock Exchange and those of Royal Carribbean dropped to $26.75.
(Reporting by Chris Jonathan Peters in Bangalore; Editing by Maju Samuel)