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13.03.2019

Troubled Boeing Takes Another Hit

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Boeing shares continued to bleed after several countries, including China, the European Union and Indonesia, grounded all flights involving the 737 MAX model. Stocks declined more than 6 percent yesterday after a 5.3 percent decline on Monday, notching their biggest two-day loss since June 2009.

Worries over the safety of one of Boeing most popular airplanes push the company’s shares sharply lower.

Stocks impacted: Boeing Co. (BOE)

As a reminder, the plane has been involved in two deadly crashes in less than six months. After the after the Ethiopian Airlines crash on Sunday the prospects of a possible delay in orders rose significantly. By the way, as federal records show, US pilots complained at least 5 times in recent months about problems controlling their Boeing 737 Max 8 jets during critical moments of flight. Considering the thorough investigations and a reaction from many countries and regulators, the company’s shares may face serious repercussions, and more sales are really at risk, which could hurt its financial position.

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