Boeing Stock Drops Following Plane Crash in South Korea
Boeing’s stock fell 4.6% in pre-market trading on Wall Street on Monday, reaching $172.47,
deepening the company’s year-to-date losses to 30.67%.
The decline followed the crash of a “B737-800” passenger plane operated by “Jeju Air” in South Korea.
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Boeing
The accident occurred on Sunday when the plane skidded on the runway without deploying its landing gear,
crashing into a wall and catching fire. The incident resulted in the deaths of 179 people.
Although investigations are ongoing, the event has heightened investor concerns about the quality of Boeing’s aircraft.
Earlier this year, Boeing’s stock dropped 27% following an incident in January involving the explosion of an emergency door on a “737 Max 9.”
This has added to the mounting pressure on the aircraft manufacturer,
which is grappling with significant challenges in production and reputation.
Japan
Japanese Stocks Decline Amid Market Caution Ahead of Year-End
Japanese stocks fell during Monday’s trading session, influenced by losses on Wall Street last Friday.
The decline was driven by rising U.S. Treasury yields,
which impacted stock valuations and prompted caution among investors ahead of the year-end.
The Nikkei 225 Index closed 0.96% lower at 39,894.54 points,
while the broader Topix Index dropped 0.65% to 2,783.52 points by the end of the session.
Despite this decline, the Nikkei achieved strong gains in December, rising 4.4%, and concluded 2024 with an annual increase of 20%.
This marks the index’s best performance since 1989, 35 years ago,
supported by robust corporate earnings and a weak yen that enhanced the global competitiveness of Japanese exporters.
Boeing Stock Drops Following Plane Crash in South Korea