Max 8 crisis wipes more than $25 billion off Boeing's market value
Following the announcement by US President Donald Trump that Boeing's 737 Max planes would be grounded across the country, the aerospace company's stock value plunged, as reported by CNN.
Shares of Boeing immediately fell 3% after Trump’s announcement. They later recovered to close slightly higher by the end of the day.
But since the Ethiopian Airlines crash on Sunday, Boeing’s stock has lost more than 10% of its value, wiping out more than $25 billion of the company’s market value.
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