Shares of Boeing Co. BA, -3.73% sank 2.2% in premarket trade Tuesday, to extend the previous session’s 5.3% drop in the wake of a second deadly crash of a 737 Max 8 aircraft made by the aerospace giant. The implied price drop would shave about 60 points off the Dow Jones Industrial Average’s DJIA, -0.10% price, while Dow futures YMH9, +0.49% were losing 81 points. On Monday, the stock’s price decline of $22.53 acted as a 153-point drag on the Dow, but the Dow still ran up 175 points. Boeing’s second-day selloff comes as the Federal Aviation Administration said it had no plans to ground 737 Max airliners. Boeing’s stock, which is the most influential Dow component given that it is the highest priced, and the Dow is a price-weighted index, has still soared 22.4% over the past three months, while the Dow has gained 4.6%.
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