Boeing was down more than 8% as the markets opened. The drop comes just after harrowing video from an Alaska Airlines flight on Friday showed a large panel on the side of the plane being torn off after the flight took off. Phones and other items were sucked out of the window as oxygen masks deployed.
It isn’t yet clear what caused the door panel to blow out, although the FAA ordered inspections for certain Boeing 737 Max 9 aircraft operated by U.S. airlines or in U.S. territory. In total, some 171 airplanes will be affected by the grounding order.
“The FAA is requiring immediate inspections of certain Boeing 737 Max 9 planes before they can return to flight,” FAA Administrator