Boeing shares plummeted after plane crash in China

In the trading session on March 21 in the New York market, the price of share belong to Boeing and parts suppliers for the US plane maker all fell sharply after the crash involving a Boeing 737-800 of China Eastern Airlines.

At the end of the session, Boeing shares fell nearly 4% and was one of the stocks in the Dow Jones industrial group with the biggest drop of the day. Shares of companies supplying engines and components for Boeing’s aircraft also dropped.

Earlier, a Boeing 737-800 aircraft bearing the number MU5735 carrying 123 passengers and 9 crew members suddenly crashed in a mountainous area and caused a big fire in the southern part of China. on March 21st. Boeing said it is collecting information to determine the cause of the accident.

Chinese authorities are also making efforts to carry out search and rescue operations, but have not made any official announcements about casualties. The Civil Aviation Administration of China (CAAC) activated the emergency mechanism and sent a team to the scene to speed up search and rescue work and clarify the cause of the accident.

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