Boeing fell more than 5 percent on the stock exchanges in New York on Monday. Investors reacted to the plane crash in South Korea.

On Sunday, a Boeing 737-800 from Jeju Air skidded across the runway at Muan Airport without its landing gear extended and hit a wall. 179 people were killed. It is the deadliest plane crash in South Korea ever. In addition, another plane from the South Korean airline, also a Boeing 737-800, returned to the airport on Monday because of problems with the landing gear.

The South Korean Ministry of Transport is working on plans to inspect all 101 Boeing 737-800s in the country. Boeing said it was in contact with Jeju Air to assist. The aircraft manufacturer is already under increased supervision by the FAA after several incidents with its aircraft. In January, for example, a Boeing had to make an emergency landing due to losing a door panel in the air. More defects were later found in Boeing aircraft.

The general mood on Wall Street remained negative after the significant price losses on Friday. The Dow Jones index was down 1.1 percent at 42,501 points shortly after the market opened. The broad S&P 500 index fell 1.3 percent to 5,896 points, and the tech benchmark Nasdaq fell 1.4 percent to 19,446 points. Both indicators lost more than 1 percent on Friday, mainly due to significant price losses of heavyweights such as electric car manufacturer Tesla and AI chip company Nvidia.

Tesla
Tesla is now down 1.6 percent after the price loss of 5 percent on Friday. Nvidia lost 0.7 percent after a loss of more than 2 percent in the previous trading session.

Trading continued quietly towards the end of the strong stock market year. With two full trading days to go, the S&P 500 index is heading for a gain of more than 20 percent in 2024, and the tech exchange Nasdaq is heading for an annual gain of more than 30 percent.

Investors also reflected on Jimmy Carter’s death. On January 9, the former president’s state funeral will be held in the US, triggering a day of national mourning. Wall Street traditionally remains closed during presidential funerals, and the stock exchange operators have yet to make an announcement.