Dow futures slump as Boeing’s stock drops premarket following Ethiopian Airlines crash

An earlier version of this article incorrectly spelled the name of the chief executive officer of Boeing Co., Dennis Muilenburg. The error has been corrected.

Reuters A Boeing 737-800 aircraft of Air China sits on the tarmac at an airport in Beijing.

The Dow Jones Industrial Average fell at the start of trade Monday, with Boeing Co. shares weighing on the blue-chip index after a second deadly crash in about six months involving its 737 Max 8 aircraft.

How are major indexes faring?

The Dow Jones Industrial Average DJIA, -0.34%  slid 140 points, or 0.6%, to 25,304, while the S&P 500 index SPX, +0.44%  was up 14 points, or 0.5%, at 2,757. The Nasdaq Composite Index COMP, +0.84% rose 65 points, or 0.9%, to 7,473.

What’s driving the market?

Shares of the Boeing BA, -9.08% the Dow’s most heavily weighted company, fell more than 11% Monday morning, 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 on Sunday, leaving no survivors among the 157 on board.

It comes months after a crash of the same model plane flown by Indonesia’s Lion Air, which went down into the Java Sea shortly after takeoff, killing 189 persons. The plane maker 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 technical problems, and the weather was clear. China has grounded all 96 of its 737 Max 8 planes, and Ethiopia Airlines has also reportedly done the same.

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