Delta Air Lines, Inc. (DAL  ) cut its first-quarter revenue and profit guidance after Monday's closing bell sending a shockwave throughout the airline sector.

The Details: Delta said it now expects to deliver total revenue growth for the March quarter of 3% to 4% year-over-year, down from earlier forecasts of 7% to 9% growth. The airline also reduced its expected EPS to between 30 cents and 50 cents per share, down from previous guidance of 70 cents to $1 per share.

Delta said its outlook was impacted by recent declines in consumer confidence amid economic uncertainty leading to softness in domestic demand.

Delta Air Lines CEO Ed Bastian told CNBC that corporate and consumer spending have started to fall and recent air safety incidents have had an impact on bookings as well.

Airline Sector: Other airline stocks, including American Airlines Group, Inc. (AAL  ) and United Airlines Holdings, Inc. (UAL  ) were also sharply lower following the announcement from Delta.

Investors can monitor the airline industry though the U.S. Global Jets ETF (JETS  ), which provides diversified exposure to the global airline industry, including airline operators, aircraft manufacturers, airports and terminal services companies.

DAL Price Action: According to Benzinga Pro, Delta Air Lines shares were down 13.09% at $43.74 after falling 5.51% during Monday's regular trading session.