Boeing stock declines sharply after Ethiopian Airlines crash

Boeing 737 Max airplane.
(Image credit: Stephen Brashear / Stringer/ Getty Images)

Boeing shares declined by 9 percent in pre-market trading on Monday after the crash of one of its popular 737 Max 8 jets in Ethiopia sparked safety concerns, Bloomberg reports. Ethiopian Airlines on Monday said it was grounding its fleet of new planes after one of them crashed Sunday shortly after takeoff, killing all 157 people on board. China's civilian aviation authority also ordered Chinese airlines to temporarily ground their 96 Max 8s following the crash, the second involving one of the Boeing planes in five months; a Lion Air flight crashed in the Java Sea in late October, killing all 189 people on board. The plane was leaving Addis Ababa, Ethiopia's capital, for Nairobi, Kenya. The cause of Sunday's crash is under investigation.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.