Boeing, the highest weighted stock in the Dow, is responsible for drop in the Dow.
An Ethiopian Airlines flight crashed Sunday morning, the second Boeing 737 Max 8 aircraft to do so in five months.The second crash of a Boeing 737 Max 8 aircraft in five months has caused has sentThe sell-off in Boeing, which commands a weighting of more than 10% of the Dow Jones Industrial Average, has wiped out nearly 340 points from the index. The Dow would, which is down 187 points in pre-market trading, would be trading higher if not for Boeing's losses.
Unlike the Dow, the S&P 500 is weighted by market cap, meaning the largest compay, Microsoft, 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.NOW WATCH:
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