Boeing Shares Slide Following Air India 787 Crash

U.S. stock markets opened lower on Thursday, weighed down by renewed trade tensions and a major aviation disaster involving a Boeing aircraft.

The Dow Jones Industrial Average fell by 0.4 percent to 42,705.52 about 25 minutes into the trading session. The S&P 500 dipped 0.1 percent to 6,018.24, while the Nasdaq Composite Index also edged down 0.1 percent to 19,595.85.

The market pullback came after President Donald Trump, shortly after easing trade friction with China, reignited uncertainty by threatening to send ultimatums to other key trading partners, fueling fresh concerns of a potential trade war.

Shares of Boeing dropped roughly five percent after a tragic crash involving an Air India 787 Dreamliner en route to London. The aircraft went down in western India, with all 242 passengers and crew feared dead.

In economic data, U.S. wholesale prices rose by 0.1 percent last month. While modest, the increase has kept inflation concerns alive, especially amid ongoing worries that Trump’s tariffs could further drive up prices.

Elsewhere in the market, Oracle shares soared 12.1 percent following a strong earnings report. The software company posted eight percent revenue growth over the past year and expressed optimism about even stronger performance in the year ahead.

Source: AFP