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. AAL, +5.02% , JetBlue Airways Corp. JBLU, +3.01% and Mesa Air Group Inc. MESA, +1.45% to hold from buy, while upgrading Hawaiian Airlines parent Hawaiian Holdings Inc. HA, +3.90% 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. DAL, +3.16% shed 5.2% and Southwest Airlines Co. LUV, +3.66% lost 5.4%. The U.S. Global Jets ETF JETS, +2.66% declined 6.0% ahead of the open, while futures YM00, -1.00% for the Dow Jones Industrial Average DJIA, +0.13% slid 847 points, or 3.8%.