Boeing's big drop is shaving more than 300 points off the Dow
Business Insider
Published Mar 11, 2019 09:04AM ET
Updated Mar 11, 2019 09:47AM ET
- Dow Jones Industrial Average futures were down more than 170 points and Boeing had previously driven 30% of the gain in the Dow this year . The Dow is a price-weighted index, meaning the company with the highest share price, Boeing, has the heaviest weighting. Even with Monday's losses, Boeing's stock price is still the highest in the index, at $371.
Unlike the Dow, the S&P 500 is weighted by market cap, meaning the largest compay, Microsoft (NASDAQ:MSFT), has the heaviest weighting. By comparison, Boeing commands the 15th biggest weighting of S&P 500 names.
Sunday's crash of an Ethiopian Airlines flight, which killed all 157 on board, follows the crash of a Lion Air flight in Indonesia this past October. Both involved Boeing's 737 Max 8 plane. Boeing has over 5,000 orders outstanding for the 737 Max 8 aircraft.
Boeing's stock was up 14.9% this year, including Monday's sell-off.
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Written By: Business Insider
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