Why Boeing and Its Suppliers Are Falling Today
Inflation fears are spooking Wall Street and causing investors to flee from consumer discretionary stocks that might find it hard to sell their goods in the months to come. That's having an impact on the aerospace industry, sending shares of both Boeing (NYSE: BA) and General Electric (NYSE: GE) down as much as 5% today.
It has been a long couple of years for both airlines and their major suppliers. The pandemic wiped out travel demand, and with it demand for new aircraft, sending shares of both the airlines and companies like Boeing and jet engine supplier GE tumbling.
Friday's inflation report brought fresh reason for worry. Consumers are experiencing inflation levels unseen for about four decades, and investors are worried that, faced with higher prices for basic needs, the public might decide against purchasing pricey items like plane tickets in the months to come.
Source Fool.com
