Transportation
Boeing Extends 2024 Drop Past 25% as Max Crisis Deepens
- DOJ has convened a grand jury to hear evidence in the case
- Shares extend slide after reports of deepening DOJ probe
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Boeing Co.’s crisis of confidence gathered pace, with the share slump surpassing 25% this year after the Justice Department opened a criminal investigation into an accident that has thrown the company into disarray.
The shares slid as much as 4.4% in New York on Monday, their biggest intraday drop since Jan. 25. Alaska Airlines — the carrier on which a fuselage panel blew out during a 737 Max flight earlier this year — confirmed the government probe. Federal prosecutors have convened a grand jury as part of the investigation, Bloomberg News reported on Monday.