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Airline stocks tumble after second deadly crash involving Boeing’s 737 Max

Airline stocks tumbled in premarket trade Monday, as Boeing Co. shares cratered after a deadly crash involving the aerospace giant’s 737 Max 8 aircraft in Ethiopia, the second fatal accident involving the aircraft in six months.

Boeing shares BA, +0.00% slid more than 9% on the news that the aircraft operated by Ethiopian Airlines crashed shortly after taking off from the capital of Addis Ababa, killing all 157 people on board. In October, the same plane, operated by Indonesia Lion Air, crashed into the sea, killing all 189 passengers on board. China’s civilian aviation authority has ordered all airlines to ground Max 8 planes, while Ethiopian Airlines has grounded its entire fleet of the model.

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