Airline stocks were taking a dive in premarket trading Wednesday, as part of a broad stock market selloff in the wake of the White House's grim warning on the coronavirus pandemic. Analyst Joseph DeNardi at Stifel Nicolaus said the "near worst-case scenario" is playing out for airlines, with more stringent travel restrictions and quarantines being implemented are resulting in further demand weakness, and with concerns that COVID-19 will re-emerger later in the year. DeNardi expects airlines to suspend flying for a period this summer. He downgraded American Airlines Group Inc. /zigman2/quotes/209207041/composite AAL +4.42% , JetBlue Airways Corp. /zigman2/quotes/207639051/composite JBLU +2.04% and Mesa Air Group Inc. /zigman2/quotes/201991362/composite MESA +1.37% to hold from buy, while upgrading Hawaiian Airlines parent Hawaiian Holdings Inc. /zigman2/quotes/203188135/composite HA +3.23% to hold from sell on valuation. Among the more-active airlines ahead of the open, shares of American sank 5.4%, JetBlue dropped 6.2%, Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +2.65% shed 5.2% and Southwest Airlines Co. /zigman2/quotes/201071949/composite LUV +0.65% lost 5.4%. The U.S. Global Jets ETF /zigman2/quotes/207744796/composite JETS +1.21% declined 6.0% ahead of the open, while futures /zigman2/quotes/210407078/delayed YM00 -0.04% for the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.34% slid 847 points, or 3.8%.