Boeing stocks dropped 11 percent Monday morning over worries about safety concerns after the crash on Sunday of an Ethiopian Airlines Boeing 737 Max 8 airliner. Countries around the world have grounded their fleets of 737 Max 8s.
Boeing stocks dropped 11 percent Monday morning over worries about safety concerns after the crash on Sunday of an Ethiopian Airlines Boeing 737 Max 8 airliner. Countries around the world have grounded their fleets of 737 Max 8s.
China’s civil aviation regulator on Monday told domestic airlines to ground the Boeing 737 MAX 8 jets. The move was soon followed by Indonesia, Cayman Airways, and Ethiopian Airlines, which said they were grounding the airliners temporarily, reports CNBC.
The groundings come as the flight data and voice recorders have been recovered from the site of the Ethiopia crash. With this being the second crash of a Boeing 737 Max 8 in just a few months, safety questions have been renewed, especially owing to clear weather and a new plane being involved in both crashes.
Boeing’s stock fell sharply – dragging down the Dow Jones Industrial Average, even though most of the companies on the board were up on the day.
