Dow Jones Industrial Average futures fell sharply on Monday, amid concerns that heavily weighted Boeing Co. will drag the main index lower after the second deadly crash in six months involving one its planes.
How are major indexes faring?
Dow Jones Industrial Average futures YMM9, -0.67% slid 168 points, or 0.7%, to 25,361, while S&P 500 futures ESM9, +0.05% were up 2.1 points at 2,754. Nasdaq-100 futures NQM9, +0.20% gained 14 points, or 0.2%, to 7,067.25.
The Dow Jones Industrial Average DJIA, -0.09% logged its longest losing streak since June on Friday, bouncing off intraday lows to slide 22.99 points, or 0.1%, to 25,450.24. The S&P 500 index SPX, -0.21% shed 0.2%, to 2,743.07, its worst string of losses since November, and the Nasdaq Composite Index COMP, -0.18% dropped or 0.2%, to 7,408.14, marking its weakest stretch since April.
For the week, both the Dow and the S&P 500 fell 2.2% and the Nasdaq declined 2.5%.
What’s driving the market?
Shares of the Boeing BA, +0.00% the Dow’s most heavily weighted company, fell over 9% in premarket trading, after one of the company’s 737 Max 8 planes operated by Ethiopian Airlines crashed shortly after take off from the capital of Addis Ababa, Ethiopia on Sunday. There were no survivors among the 157 on board.
It comes months after a crash of the same plane flown by Indonesia’s Lion Air, which crashed into the Java Sea shortly after takeoff, killing 189 persons. The aerospace group released a statement expressing sympathy for the families of the victims, and said it would be sending a technical team to assist.
Investigators will be looking at the two separate crashes — both took place as the aircraft were taking off. The pilot of the Ethiopian flight was trying to return to the airport after reporting