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Dow Dives After NYT Drops Brutal Boeing Bombshell

Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: "CCN+Hacked". Sign up here. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524167859587-8'); });Get Exclusive Analysis and Investing Ideas of Future Assets on Join the community today and get up to $400 in discount by using the code: "CCN+Hacked". Sign up here. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524167859587-0'); });TweetShareBy CCN: The Easter trading holiday failed to reinvigorate the Dow, which fell on Monday after the New York Times published a bombshell report about the index’s largest component, Boeing. Dow Dives After Easter Trading Holiday The Dow Jones Industrial Average endured a sharp decline at the opening bell but managed to sneak back across the 26,500 mark soon after. As of 9:40 am ET, the DJIA traded at 26,501.17 for a loss of 58.37 points or 0.22 percent. The S&P 500 and Nasdaq also took losses, falling 0.17 percent and 0.29 percent ahead of a busy week for corporate earnings.Crippled by Boeing, the Dow took a precipitous drop at the open. |Source: Yahoo FinanceLast week, the Dow closed at 26,559.54 following Thursday’s 110 point or 0.42 percent rally. The S&P 500 rose 0.16 percent to hold above the 2,900 level at 2,905.03, while the Nasdaq gained 0.02 percent to 7,998.06. New York Times Exposes Alarming Safety Concerns at Boeing Plant This morning, the Dow slipped back into decline after the New York Times published abombshell report about the Boeing plant in North Charleston, South Carolina, one of two facilities that manufacture the 787 Dreamliner. According to the NYT, Boeing’s safety flubs extend far beyond the 737 MAX, which remains grounded following two fatal crashes linked to a faulty anti-stall system. At the South Carolina plant, at least, “potentially systemic problems” threaten to permanently scar the century-old aerospace giant’s stellar reputation. Citing a treasure trove of internal documents, regulatory records, and employees, the NYT alleged that 787 Dreamliners produced at the North Charleston facility suffer from “shoddy production” standards that at times created dangerous safety hazards.Boeing stock had already plunged 15 percent since March 1, and the NYT report doesn’t look to help the embattled aerospace giant. | Source: Yahoo FinanceCurrent and former employees say that Boeing leadership pressured them to prioritize production targets over safety and quality standards, causing the plant to regularly ship aircraft that had debris and other foreign objects littered among the planes’ internal components.One American Airlines employee found a piece of Bubble Wrap near the co-pilot’s pedal and loose objects touching electrical wires that control the 787 Dreamliner’s landing gear. Boeing employees say that they once found a ladder inside a plane’s tail.“I’ve told my wife that I never plan to fly on it,” said technician Joseph Clayton, who worked at Boeing’s North Charleston plant. “It’s just a safety issue.” “As a quality manager at Boeing, you’re the last line of defense before a defect makes it out to the flying public,” added former quality manager John Barnett. “And I haven’t seen a plane out of Charleston yet that I’d put my name on saying it’s safe and airworthy.”At best, employees who raised these concerns found themselves ignored. Quality managers who refused to turn a blind eye to safety hazards allege that they were reassigned or even fired on trumped-up violations. Boeing Stock Resumes Brutal TailspinBoeing’s woes could extend far beyond the beleaguered 737 MAX. | Source: ShutterstockIt’s not a good look for Boeing, which already faces increased regulatory and legislative scrutiny following the 737 MAX controversy. Boeing shares had already plunged 15 percent since the beginning of March, and this NYT report won’t do the firm any favors as it seeks to rebuild its reputation. To make matters worse, Boeing plans to report its first-quarter earnings on April 24. Analysts warn those results might not be pretty. Boeing stock dropped another 1.1 percent at the bell, and it dragged the Dow along with it.BA shares dropped more than 1 percent before Monday’s opening bell, setting the Dow up for another dreary day. | Source: Yahoo Financedocument.addEventListener("DOMContentLoaded", function(event) { var commentBoxDiv2 = document.getElementById("vuukle-comments"); var commentBoxDivAfter2 = document.getElementsByClassName("tags")[0]; var cloneCommentBoxDiv2 = commentBoxDiv2.cloneNode(true);commentBoxDiv2.parentNode.removeChild(commentBoxDiv2); commentBoxDivAfter2.parentNode.insertBefore(cloneCommentBoxDiv2, commentBoxDivAfter2.nextSibling); });#vuukle-comments{position:relative!important} var VUUKLE_CONFIG = { apiKey: "c0756128-a51e-44af-9c60-d971619bf980", articleId: "175750", tags: "Boeing, Dow Jones, new york times", author: "Josiah Wilmoth", // LangwordpressSync: true, eventHandler: function (e) { console.log(e); if (e.eventType == 'wpSync') { jQuery.ajax({ type: 'POST', data: { "action": "save_comment_to_db", "comment_ID":e.comment_ID, "comment_post_ID": e.comment_post_ID, "comment_author": e.comment_author, "comment_author_email": e.comment_author_email, "comment_author_url": e.comment_author_url, "comment_content": e.comment_content, "comment_type": e.comment_type, "comment_parent_ID": e.comment_parent, "user_id": e.user_id, "comment_author_IP": e.comment_author_IP, "comment_agent": e.comment_agent, "comment_approved": e.comment_approved, "comment_date": e.comment_date, "comment_date_gmt": e.comment_date_gmt, "comment_karma": e.comment_karma, "_wpnonce": "32a79b35d2" // WPCS: XSS ok }, url: "/wp-admin/admin-ajax.php", beforeSend: function () {}, success: function (data) { } }); } }, // Articles - recommendations in emotes and comments widget recommendationsWideImages: false, globalRecommendations: true, // Colors darkMode: false, // By Widget theme: {color: "108ee9"}, comments: { vuukleAuth: true, disqusAuth: true, hideRecommendedArticles: false, hideCommentInputBox: false, enabled: true, commentingClosed: false, maxChars: '3000', countToLoad: '5', toxicityLimit: '80', spamLimit: '90', sorting: 'latest', transliteration:{ language: 'en', enabledByDefault: false, }, }, emotes: { enabled: true, hideRecommendedArticles: false, size: '70', // icons size firstImg: '', firstName: 'Yeah!', secondImg: '', secondName: 'Careface', thirdImg: '', thirdName: 'hmm..', fourthImg: '', fourthName: 'HAHA', fifthImg: '', fifthName:'PISSED', sixthImg: '', sixthName: 'cry baby', disable: [], }, powerbar: { enabled: false, defaultEmote: 1, items: [ 'twitter', 'facebook', 'linkedin', 'messenger', 'whatsapp', 'reddit', 'messenger', 'pinterest', 'flipboard', 'email', ], customUrls: { twitter: ` Dives After NYT Drops Brutal Boeing Bombshell&url=`, }, },}; (function () { var d = document, s = d.createElement('script'); s.async = true; s.src = ''; (d.head || d.body).appendChild(s); })(); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1524167859587-2'); });(function() { var referer="";try{if(referer=document.referrer,"undefined"==typeof referer||""==referer)throw"undefined"}catch(exception){referer=document.location.href,(""==referer||"undefined"==typeof referer)&&(referer=document.URL)}referer=referer.substr(0,700); var rcds = document.getElementById("rcjsload_f09f3b"); var rcel = document.createElement("script"); = 'rc_' + Math.floor(Math.random() * 1000); rcel.type = 'text/javascript'; rcel.src = """&c="+(new Date()).getTime()+"&width="+(window.outerWidth || document.documentElement.clientWidth)+"&referer="+encodeURIComponent(referer); rcel.async = true; rcds.appendChild(rcel); })(); var vuuklehb = vuuklehb || {}; vuuklehb.que = vuuklehb.que || []; var passbackAdunit = { slotId: "/213794966/vuukle-widget/", slotSizes: [[250, 250], [300, 250], [400, 250],[400, 300]], adId: "div-gpt-vuukle-passback" }; vuuklehb.que.push(function(){ vuuklehb.loadPassbackAds([passbackAdunit]); });