Investors Bail on Boeing Following Max 9 Grounding

Investors are losing confidence in Boeing and one of its suppliers after a recent incident in which part of a new 737 Max 9 airliner broke off in midflight. Air safety officials have grounded the Max 9 model, causing airlines to cancel hundreds of flights. Shares in Boeing and its supplier Spirit Aerosystems have dropped as a result. This incident could be a setback for Boeing’s turnaround plan and its reputation. It is the latest in a series of safety issues following the deadly crashes of different versions of the Max in 2018 and 2019.