Boeing loses $13B in value as shares sink after feds ground best-selling 737 MAX jets

News Snapshot:

Boeing shares fell more than 6% in morning trading on Monday and were set to erase nearly $13 billion in market value following the temporary grounding of some of its best-selling 737 MAX jets by the US aviation regulator. A piece of fuselage tore off an Alaska Airlines 737 MAX 9 jet on Friday following takeoff from Portland, Ore., forcing pilots to turn back. The Federal Aviation Administration subsequently ordered the temporary grounding of 171 narrowbody MAX 9 jets. Alaska Air’s shares were down 4.5%, while United Airlines, the other US carrier that operates the jet, reversed course from premarket...