Shares in US aviation giant Boeing fell precipitously on Wednesday, dragging the Dow Jones Industrial Average lower moments after President Donald Trump announced the grounding of top-selling aircraft.
It was an erractic day as Boeing shares recovered early in the session, but lost nearly 3 % after Trump’s announcement, before regaining some ground. It was down 1.2 % just after 1900 GMT at $371.20.
The stock is now down more than 12% since before Sunday’s crash of an Ethiopian Airlines flight, and wiping billions off the company’s market value.
The benchmark Dow, which is heavily weighted to Boeing’s shares, fell about 100 points, but then bounced back to show a 0.3% gain.