Why Boeing Stock Lost Altitude in September
September was a dismal month for stocks, with investors increasingly worried about the potential for a global economic slowdown. Shares of Boeing (NYSE: BA) got hit worse than most, with the shares down 24.4% for the month, according to data provided by S&P Global Market Intelligence.
Boeing investors had a September they'd rather forget, with the stock approaching lows not seen since the early days of the pandemic despite no company-specific news that would suggest a need for that level of panic. Indeed, the problem wasn't Boeing-specific. Rather, Boeing shares got caught up in a broader market sell-off fueled by increasing fears that the economy is headed toward a recession.
Europe is slowing due to the war in Ukraine and the subsequent spike in energy prices, China remains caught up in COVID-19-related shutdowns, and in the U.S. the Federal Reserve continues to aggressively battle inflation. Across the globe there are real threats to discretionary spending, which usually translates into lower demand for travel.
Source Fool.com
