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Boeing shares continue to fall against the background of the suspention on flying of 737 Max

Boeing's shares at the opening of trading on the New York Stock Exchange fell by more than 11% to $371.27 per share against the background of crashing the Boeing 737 Max 8 in Ethiopia. As of 18:42 Moscow time, the Company's shares became cheaper by 6.77% and cost $393.92 per share, according to the data of the auction.

According to Bloomberg, this is the largest drop in the share prices during the day trading since September 11, 2001, when a series of terrorist attacks using four aircrafts occurred in the USA. Then the value of Boeing's shares fell down by 13%, the Agency said.

Ethiopian Airlines’s Boeing 737 Max 8 crashed on March 10 flying from Addis Ababa to Nairobi. The aircraft disappeared from the dispatcher radars six minutes after its departure from Addis Ababa Airport. 157 people were on board; they all died.

After the crash, Ethiopian Airlines suspended flights to the Boeing 737 Max 8.

In general, as of Tuesday, March 12, Australia, Austria, Great Britain, Germany, Indonesia, Ireland, China, Singapore, France, as well as a number of airlines in Norway, the USA, Turkey and Latin America announced of the suspention on flying.

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InvestorGreg Editorial Team

InvestorGreg Editorial Team

The InvestorGreg Editorial Team is a group of financial writers and analysts who cover the worlds of finance and investment. Read more