Southwest Air Drops as U.S. Shutdown Forces Cut to Outlook

The political stalemate that ended last month will reduce first-quarter revenue by $60 million as the aftereffects linger, Southwest said in a regulatory filing Wednesday.“The company has continued to experience softness in passenger demand and bookings as a result of the government shutdown,” Southwest said.Southwest dropped 4.5 percent to $55.10 at 9:39 a.m. in New York after sliding as much as 6.1 percent for the biggest intraday decline in three months.