I've written about this before, but it's summer soon (I think we've had ours in the UK (We had a week of 'hot' weather), so I'll say this again:
It would not surprise me to see businesses suffer because of a lack of people wanting to go to the USA this year. International tourism contributed a staggering 3% to US GDP in 2022 (nearly THREE TRILLION DOLLARS) and 9 million jobs.
By the way the administration has treated foreigners in general (ie suspicion and backstabbing), people aren't going to go: "Hey, I'd love to visit the USA right now! Everyone's sooooo welcome!!", and that's going to hurt.
In March the amount of visitors dropped nearly 12% - including 17.2% from Western Europe, where people seem to be really, really pissed off at what's going on. Hotel bookings in NYC are down 20%. LA too.
This is going to be ugly, and it's all the creation of an utterly insular government.
The ripple effect isn't just going to hit stocks such as Hilton ($HLT) or other hotel and travel chains, it's going to felt through more lay-offs by businesses both small, medium-sized and large, and another knife in the back to good people who never asked for this crap.