Shares of American Airlines Group (NASDAQ: AAL), United Airlines Holdings (NASDAQ: UAL), and Spirit Airlines (NYSE: SAVE) led the way with 5% declines, and shares of Delta Air Lines (NYSE: DAL), Southwest Airlines (NYSE: LUV), and JetBlue Airways (NASDAQ: JBLU) were all down 4% or more. What happened Airline stocks fell faster than the broader markets on an ugly day of trading, weighed down by fears that two significant expenses for the industry could soon shoot higher. Inflation could lead to the Federal Reserve raising rates faster than expected, which would be bad news for airline balance sheets.