Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify (click the highlighted links).
Boeing shares plunged 10% premarket after China's aviation regulator grounded nearly 100 737 MAX 8 aircraft operated by its airlines, more than a quarter of the global fleet of the jets. A deadly crash in Ethiopia on Sunday killed 157 people, less than five months after another new 737 MAX 8 crashed in Indonesia, killing 189 people on board. "Given that two accidents happened during take-off phase, they have some degree of similarity," the Civil Aviation Administration of China declared. Boeing's (NYSE:BA) 737 MAX 8 first entered service in 2017.