Boeing plunges nearly 9% to lowest close in 27 months

Jun. 13, 2022 3:59 PM ETThe Boeing Company (BA), JETS, ITABy: Carl Surran, SA News Editor43 Comments

Boeing Logo on Building

sanfel/iStock Editorial via Getty Images

Boeing (NYSE:BA) -8.7% to lead Monday's losers on the Dow Jones index, on track for the stock's lowest close since March 23, 2020, when it closed at $105.62.

The company's decline of more than $11/share was knocking more than 70 points off the Dow's price, while the Dow plunged 875 points, or -2.8%.

Boeing (BA) shares have shed nearly 18% during the past four days and are the Dow's biggest decliner so far this year, -44%, and in the past 12 months, -53%.

Boeing's (BA) selloff comes as growing fears of a recession weighed on airline and aerospace and defense sectors, with the U.S. Global Jets ETF (NYSEARCA:JETS) -15.5% and the iShares U.S. Aerospace & Defense ETF (BATS:ITA) -10% since June 7's close.

Boeing (BA) has dropped a third of its value since its big Q1 earnings miss on April 27, when it also said it would pause production of the 777X at least through 2023.

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