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Ethiopian air crash: Boeing's $55-bn rally put to test as shares slide

The weekend accident happened as the US stock-market rebound is showing signs of strain

People walk past a part of the wreckage near the town of Bishoftu, southeast of Addis Ababa on Sunday. 	Photo: Reuters
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People walk past a part of the wreckage near the town of Bishoftu, southeast of Addis Ababa on Sunday. Photo: Reuters

Divya Balji and Matthew Burgess | Bloomberg
News of a Boeing Co. 737 Max crash operated by Ethiopian Airlines is bringing out equity bears.

Futures contracts on the Dow Jones Industrial Average Index -- where Boeing has the largest weighting -- fell Monday during Asian hours, sliding as much as 0.6 per cent after Flight ET302 plunged to the ground minutes after leaving Addis Ababa en route to Nairobi, Kenya, killing all 157 people on board. This is Boeing’s second 737 Max crash in five months. To make matters worse, China asked domestic airlines to temporarily ground those jets by 6 p.m. local time, and Ethiopian Airlines said