The Dow Jones Industrial Average fell on Tuesday as shares of Boeing posted another sharp decline amid worries over the safety of one of its most popular airplanes.
The 30-stock index closed 96.22 points lower at 25,554.66, with Boeing accounting for about a 150-point drag. (In other words, the Dow would have been higher without Boeing's loss.)
Boeing shares fell more than 6 percent, eclipsing the 5.3 percent decline from Monday's session and notching their biggest two-day loss since June 2009. Boeing fell after several countries, including China, the European Union and Indonesia, grounded all flights involving the 737 MAX model. The plane has been involved in two deadly crashes in less than six months, including one on Sunday. Edward Jones also downgraded the stock to hold from buy, citing a possible "delay in orders" after the Ethiopian Airlines crash on Sunday.
Dow (RHS) and Boeing (LHS) intraday
The broader stock market rose, however, after the release of key inflation data. The S&P 500 closed 0.3 percent higher at 2,791.52, led by gains in the utilities and health care sectors. The Nasdaq Composite advanced 0.44 percent to 7,591.03.
Apple rose more than 1 percent, lifting the S&P 500 sector by half a percent. Tech is now the best-performing sector for 2019, gaining 15.3 percent for the year.
The U.S. consumer price index rose 0.2 percent in February, matching expectations. The so-called core CPI, which strips out food and energy, fell short of estimates by gaining just 0.1 percent.