Bengaluru: Boeing shares took another beating on Tuesday as a raft of countries—responding to the Ethiopia plane crash—grounded its 737 Max 8 planes, knocking $25 billion off the market capitalization of the world’s largest planemaker.
Britain and the European Union joined China, Malaysia, Singapore, Australia and other countries in banning the 737 Ma planes, piling pressure on one of the Dow Jones Industrial Average’s best performing stocks this year.
The shares fell nearly 8% to $368.88 in mid-day trade, adding to a 5% decline on Monday and putting it on course for its biggest two-day percentage drop since June 2009.
