Boeing stock falls for second day due to 737 Max accident

Boeing stock continued to fall on Tuesday in the aftermath of a tragic mid-flight accident that left a Boeing 737 Max 9’s emergency door panel detached, leaving a gaping hole in the side of the plane and frightening passengers. .

Boeing shares were down about 1.3% by midday Tuesday, after falling 8% on Monday alone. The stock closed Monday at $229.01, down nearly $20 from its price at Friday’s market close.

The stock was the worst performer in the Dow Jones Industrial Average, with its biggest decline since October 2022 as of Monday’s market open, Barron’s reported.

The drop came after the Federal Aviation Administration (FAA) on Saturday ordered the temporary grounding of about 171 Boeing aircraft operated by U.S. airlines or within U.S. territories.

The CEO of Alaska Airlines, which operated the Boeing plane, said on Friday that the airline had conducted a complete safety inspection of the Boeing 737 Max 9 and that Boeing and the federal It said it was cooperating with regulators.

The National Transportation Safety Board announced it was investigating.

“The FAA is requiring some Boeing 737 MAX 9 aircraft to be immediately inspected before they can fly again,” FAA Administrator Mike Whitaker said in a statement. “Safety will continue to be the driving force in our decision-making. [National Transportation Safety Board’s] Investigation of Alaska Airlines Flight 1282. ”