BREAKING: Dow Ends Lower as Bulls Retreat on COVID Restrictions, Boeing U-turn
Investing.com - The Dow ended lower following late-day selling Wednesday on signs of further Covid-19 restrictions in the U.S. that threaten the pace of the recovery, and an intraday reverse in Boeing.
The Dow Jones Industrial Average fell 1.16%, or 345 points. The S&P 500 was down 1.17% while the Nasdaq Composite fell 0.82%.
Boeing cut gains after Morgan Stanley warned that bullish sentiment on the stock was getting ahead of fundamentals. The aircraft had been up more than 6% intraday after the Federal Aviation Authority ordered the ungrounding of Boeing's 737 Max, which was involved in two deadly crashes.
Following the news, several airlines that carry the 737 Max in their fleet confirmed they would begin to fly the jets within weeks.
United Airlines said it plans to fly its Boeing 737 Max jets in the first quarter next year, while American Airlines said it will fly at the end of the year. Southwest Airlines will fly the jets in the second quarter.
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