- Boeing (BA) shares fell 12% in premarket trading following a second crash in less than five months of its bestselling passenger jet, the Boeing 737 MAX 8.
- New: Indonesia’s Ministry of Transportation Monday ordered all Boeing 737 MAX 8 aircraft grounded pending inspections.
- Chinese aviation authorities told airlines in the country to ground all their Boeing 737 MAX 8 aircraft, citing the need for "strict control of safety risks."
- Boeing has postponed the debut of its new 777X jetliner, which was scheduled for this week
- The situation threatens to tarnish the US plane maker's reputation for safety.
What's moving markets today: March 11, 2019
The decision comes less than two weeks ago that it would begin shutting most of its stores in a cost-cutting move designed to help reduce the price of its bestselling vehicle, the Model 3, to as low as $35,000.
Shares are up more than 1% in premarket trading.
- US stock futures are lower, with the Dow down more than 100 points.
- European markets are moving up.
- Stocks in Asia closed with gains. The Shanghai Composite gained the most, closing up nearly 2%.
- Friday: The Dow closed down 0.1% after a disappointing US jobs report. The S&P 500 and the Nasdaq shed 0.2%.