Investing.com – The slumped on Monday, dragged down by index heavyweight Boeing (NYSE:) as a deadly crash cast doubt over the reliability of one of the company’s biggest money-spinners.
Boeing, the heaviest-weighted component of the Dow, slumped 10% amid that China and Indonesia – two of the biggest sales markets for the 737 Max 8 – had ordered it grounded after one crashed shortly after take-off on Sunday. There were no survivors among the 157 on board, and the disaster came just months after a crash involving the same model in Indonesia.
The Dow was down 140 points, or 0.55% as of 9:45 AM ET (14:45 GMT).
Aside from Boeing and engine-maker United Technologies (NYSE:), most other stocks were higher after data showed a solid rebound in in January. sales fell even more sharply than first thought in December, which is normally the most important month in the year.
The rose 14 points or 0.52%, while the tech-heavy increased 63 points, or 0.86%.
Technology stocks were among the biggest gainers, with Apple (NASDAQ:) up 2.2%, Facebook (NASDAQ:) gaining 2.5% and Amazon.com (NASDAQ:) rising 1.1%.
Visa (NYSE:) rose 1%, as Exxon Mobil (NYSE:) increased 1.3% and Goldman Sachs (NYSE:) was up 1.4%.
Elsewhere J&J (NYSE:) inched down 0.04% and UnitedHealth (NYSE:) slipped 0.3%.
In commodities, retreated 0.3% to $1,295.45 a troy ounce while jumped 1.3% to $56.77 a barrel. The , which measures the greenback against a basket of six major currencies, declined 0.10% to 97.172.
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