Boeing shares plummet after new U.S. travel restrictions


FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 11, 2019. REUTERS/Brendan McDermid/File Photo

CHICAGO (Reuters) – Shares in Boeing Co (BA.N) dropped more than 16% on Thursday on increased concerns over a fallout from news of sweeping U.S. travel restrictions on Europe meant to curb the spread of coronavirus.

The 30-day travel restrictions, announced by U.S. President Donald Trump on Wednesday, are expected to deepen the financial misery for airlines, which are Boeing’s main customers.

Reporting by Tracy Rucinski; Editing by Marguerita Choy

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