Why Boeing Stock Is Falling Today
Stocks plunged on Thursday as Wall Street continues to worry about a potential recession in the U.S., the expanding impact of a war in Europe, and tensions between China and the West. Shares of Boeing (NYSE: BA), one of the companies most closely tied to international trade, fell more than the broader markets, down as much as 5% on Thursday morning.
Boeing's core business is providing the airplanes that connect the globe, but it is getting harder to make the case there will be a lot of demand for those airplanes in the quarters to come. The S&P 500 fell more than 2% on Thursday on fresh commentary from Federal Reserve leadership saying the Fed is committed to taming inflation even if it means stalling the economy.
Elsewhere, tensions are high in Europe after the alleged sabotage of a key gas pipeline. The pipeline issue if nothing else will mean less natural gas transmission to Western Europe this winter, which could lead to further cuts in economic production. At worst, it could be the beginning of an escalation in tensions between Russia and European nations supporting Ukraine.
Source Fool.com
