Shares of Boeing were down over 10% in opening hours of trading this morning due to the crash of a Boeing 737 Max 8 jet flown by Ethiopian airlines where 157 people on board were killed over the weekend. This was the second crash of the aircraft type in five months. China and Indonesia grounded the 737 Max 8 until the cause of the accidents are known.
The U.S. Federal Aviation Administration said it is too early to call for the grounding of the popular, and profitable, design.
As of the posting of this article, stocks have recovered as Boeing bounced back hard on the open.
Subscribe to our evening newsletter to stay informed during these challenging times!!
