Boeing shares plunge after Ethiopia plane crash, sending Dow Jones lower

New York: Tumbling shares in US aviation giant Boeing Co. on Monday tore a hole in the Dow Jones Industrial Average, sending the benchmark index into the red for a sixth day. About five minutes into the day’s trading, Boeing shares were down 11.7% at $373.23 following the Ethiopia plane crash.

Dow Jones fell 153.81 points to 25,319.42, but the broader S&P 500 rose 0.3% to 2,758.27 and the tech-heavy Nasdaq was up an even stronger 0.7% at 7,474.61.

The fatal crash of the Ethiopian Airlines Flight ET302—the second involving a Boeing 737 Max 8 in five months—caused airlines in three countries to ground all flights involving the popular jet and cast fresh safety concerns on the airline.