BEIJING (AP) - Boeingâ€™s stock plunged 7 percent Monday as aviation authorities in China, Indonesia and Ethiopia ordered airlines to ground their Boeing 737 Max 8 planes the day after one crashed in Ethiopia, killing all 157 people on board.
The crash of the Ethiopian Airlines jet shortly after it took off from Addis Ababa on Sunday is drawing renewed scrutiny of the plane just four months after a similar crash of the same model that killed 189 people in Indonesia.
Chicago-based Boeing said it did not intend to issue any new guidance to its customers. It does plan to send a technical team to the crash site to help Ethiopian and U.S. investigators.
The 737 is the best-selling airliner in history, and the Max, the newest version of it with more fuel-efficient engines, is a central part of Boeingâ€™s strategy to compete with European rival Airbus.