Boeing stocks tank after 737 Max flights grounded

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Boeing Co. shares sank after European regulators issued a blanket ban on 737 Max flights, and India also joined in a global rebuke of the U.S. manufacturer’s most important plane in the wake of Sunday’s deadly Ethiopian Airlines crash.

  • The European aviation authority EASA grounded 737 Max flights across the region
  • India followed late Tuesday
  • The moves will put pressure on Boeing and further isolate the U.S. Federal Aviation Administration, which has assured passengers that the jet model remains airworthy
  • Boeing shares fell as much as 8 percent in New York
  • Bonds also declined and costs to insure Boeing’s debt rose the most in three years

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