Boeing share price nosedives 5% after Air India flight crashes in Ahmedabad
&imwidth=600&imheight=450&format=webp&quality=medium "Boeing share price nosedives 5% after Air India flight crashes in Ahmedabad")
Boeing shares nosedives 5% Photograph: (AFP)
About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52
Wall Street stocks dipped early on Thursday (June 12) after fresh trade war rhetoric from the President Donald Trump, while Boeing shares tumbled following a brutal Air India crash on a 787 jet.
Just hours after Trump reached a new detente with China on trade tensions, the president threatened to "send letters out" with an ultimatum to other trading partners.
Meanwhile, Boeing shares shed about five percent after a London-bound 787 Dreamliner crashed in western India, likely killing all 242 people on board.
About 25 minutes into trading, the Dow Jones Industrial Average was down 0.4 percent at 42,705.52.
The broad-based S&P 500 slipped 0.1 percent to 6,018.24, while the tech-rich Nasdaq Composite Index also declined 0.1 percent to 19,595.85.
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Data showed that wholesale prices rose 0.1 percent last month, a modest uptick as analysts continue to caution that Trump's tariffs could lift inflation in the coming months.
Among other stocks, Oracle surged 12.1 percent following an upbeat earnings report. The software giant scored eight percent revenue growth in the last year but predicted the coming year would be “even better.”
Boeing said it was in contact with Air India and stands ready to support them. The aviation giant has been attempting to rebound from a series of setbacks following a labor strike last year in the United States and fatal crashes in 2018 and 2019 of the 737 MAX.
Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.