Share Price of Boeing Falls 8% after Incident with Alaska Airlines

The share price of Boeing fell 8.4% in pre-market trade Monday, following the incident that a piece of a Boeing 737 Max 9 aircraft blew out in the middle of an Alaska Airlines flight last Friday that led to the Federal Aviation Administration ordering a temporary grounding of dozens of the said aircraft, expecting about 171 planes worldwide would be affected by this emergency order.

An investigation by the National Transportation Safety Board has been launched into the blowout of the piece.

After the unfortunate news of its rival, shares of Airbus rose 1.7% by mid-morning in the European trading hour on Monday as investors speculated that it could take market share from the U.S. plane manufacturer.