Tragic reports have confirmed how a 737 passenger jet has crashed to the ground near the Wuzhou city in China.
The horrifying incident took place during the afternoon hours of Monday as the jet fell nearly 30,000 feet towards the ground, right before it burst into flames, before striking a remotely located mountain range.
The Chinese Eastern plane had 132 survivors on board but sources have revealed how the fiery wreckage did not show any signs of survivors.
After the tragedy had taken place, Boeing revealed how its shares managed to sink by more than 4% on Monday.
This is being looked upon as the latest crash to move the entire stock market as the scandal has literally plagued the renowned aircraft producing company after a number of years.
Moreover, experts believe this has to do with the fact that the company has managed to stay in the headlines for a number of incidents that involved the faulty software that has been instilled in the 737 Max model.
The Chicago-based firm’s shares went down to a striking value of nearly $184.22 on Monday, as compared to its closing value of $192.83 on Friday during the afternoon hours.
In the same way, it was revealed how the shares in the airline company went down by nearly 6.5%, moments after the news of the horrifying incident was released.
This crash is being looked upon as another major headache by Boeing which has reportedly spent nearly 3 years from making a huge recovery from the mega financial as well as reputational hit relating to other Max crashes as the demand for the aircraft continues to decline.
Many in the past have blamed the crashes on faulty software but at the moment, nothing can be said about this incident as investigations into the cause of this crash are currently taking place.
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