737 Max crisis wipes $25 billion off Boeing’s market cap
New York (CNN Business)The latest bad news for Boeing arrived on Wednesday afternoon. The United States joined other countries and grounded its 737 Max planes.
Shares of Boeing (BA) fell 3% immediately after President Donald Trump announced the move from the White House.
The shares then rebounded in a sign that the grounding had been largely priced in to Boeing’s stock. But even after ending Wednesday slightly higher, the stock is still down more than 10% since the crash, wiping more than $25 billion off the company’s market value.
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