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turbinetree

(24,703 posts) Wed Mar 18, 2020, 10:54 AM Mar 2020

Boeing leads Wall Street slump as corporate damage grows

Source: Reuters

BUSINESS NEWS MARCH 18, 2020 / 6:22 AM / UPDATED 35 MINUTES AGO

Boeing Co (BA.N) took another big hit, falling 16.1% as the planemaker called for a $60 billion bailout for aerospace manufacturers facing the pain of an extended collapse in global travel.

The S&P 1500 airlines index .SPCOMAIR dropped 13% while hotel operators Hilton Worldwide Holdings (HLT.N), Marriott International Inc (MAR.O) and online agency Expedia (EXPE.O) were among the top fallers on the S&P 500 .SPX.

The benchmark slipped 3.82%, inching close to the 7% threshold that triggers another 15-minute halt - a familiar feature of two weeks of huge losses which have shattered Wall Street’s longest ever bull run.

“We’re just in panic mode here,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

Reporting by Medha Singh and Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta and Sagarika Jaisinghani

Read more: https://www.reuters.com/article/us-usa-stocks/boeing-leads-wall-street-slump-as-corporate-damage-grows-idUSKBN2151GM

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Boeing leads Wall Street slump as corporate damage grows (Original Post) turbinetree Mar 2020 OP

In a post-consumer world, the real economy - food, shelter, mobility - will surface bucolic_frolic Mar 2020 #1

Want some cash Boeing to offset your 737 Max disaster? To big to Fail V.2 coming up Bengus81 Mar 2020 #2

Build ventilators. mahannah Mar 2020 #3

This is crap and has nothing to do with the virus. Scalded Nun Mar 2020 #4

Sorry, but I can't muster much sympathy for The Boeing Company. Brother Mythos Mar 2020 #5

bucolic_frolic

(43,196 posts)

1. In a post-consumer world, the real economy - food, shelter, mobility - will surface

Reply to turbinetree (Original post)

Wed Mar 18, 2020, 11:02 AM

Mar 2020

Industry upon industry has piled on to the MUST HAVE list, and it's all irrelevant to living well and efficiently.

Plastic junk, entertainment, luxury glitz, gentrification .... do they help keep us alive? Or is it just overconsumption?

The real parts of the economy is recession proof.

Airlines must be terrified that people will start home businesses and augment home gigs and get on the information superhighway. Corporations would save a lot of money if conferences went to webinars. They spend too much.

Bengus81

(6,931 posts)

2. Want some cash Boeing to offset your 737 Max disaster? To big to Fail V.2 coming up

Reply to turbinetree (Original post)

Wed Mar 18, 2020, 11:11 AM

Mar 2020

mahannah

(893 posts)

3. Build ventilators.

Reply to turbinetree (Original post)

Wed Mar 18, 2020, 11:20 AM

Mar 2020

Scalded Nun

(1,236 posts)

4. This is crap and has nothing to do with the virus.

Reply to turbinetree (Original post)

Wed Mar 18, 2020, 12:21 PM

Mar 2020

Their greed and disregard for safety put them in this position, nothing more.

Brother Mythos

(1,442 posts)

5. Sorry, but I can't muster much sympathy for The Boeing Company.

Reply to turbinetree (Original post)

Wed Mar 18, 2020, 05:43 PM

Mar 2020

I feel sorry for their rank-and-file employees, but not for their upper management.

In my opinion, any bailouts directed towards The Boeing Company should be limited to their rank-and-file employees only.

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