Boeing sees $4.3 billion of market value erased after a fatal 737 crash in Iran

Nazanin Tabatabaee/WANA (West Asia News Agency) via REUTERS

• Boeing tumbled as much as 2.3% on Wednesday, erasing about $4.3 billion of the firm's market value in the wake of a fatal 737 crash in Iran.
• A Ukraine International Airlines flight heading from Iran to Ukraine lost contact two minutes after takeoff at 6:12 a.m. local time, according to FlightRadar24.
• A technical issues has been suggested as a reason for the crash, and government officials are distancing it from heightened tensions between the US and Iran.
• The jet involved is a predecessor to the 737 Max, the model grounded around the world after two fatal crashes and intense regulatory scrutiny.
• Watch Boeing trade live here.

Boeing shares tanked as much as 2.3% on Wednesday, wiping out roughly $4.3 billion in market value in the wake of a fatal 737 crash in Iran.

A Ukraine International Airlines 737 flying from Iran's Tehran Imam Khomeini International Airport to Kiev, Ukraine lost contact two minutes after taking off at 6:12 a.m. local time, according to FlightRadar24. The Ukrainian Embassy in Iran initially attributed the crash to a technical issue, and later said the cause was unknown and under investigation. 

See the rest of the story at Business Insider

NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

See Also: