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Trump's grounding of Boeing 737 Max jets trims stock market gains

March 13, 2019 / Fox Business

President Trump'sOpens a New Window. Announcement Wednesday that he is grounding Boeing's 737 Max 8 and Max 9 jet fleetOpens a New Window. in the U.S. reduced gains the stock market Opens a New Window. had made earlier in the day's session. The president's action Opens a New Window. means the U.S. joins a slew of other nations in banning the aircraft after a second fatal crash on Sunday involving an update to the Chicago-based manufacturer's most popular plane. That crash, which left all 157 people on board the 737 Max 8 jet dead comes just five months after another such aircraft crashed in Indonesia, killing all 189 people on board. "We are going to be issuing an emergency order of prohibition to ground all flights of the 737 MAX 8 and the 737 MAX 9 and planes associated with that line," Trump said. Immediately after the announcement, shares of Boeing and one of its main customers, Southwest Airlines, fell hard but then regained some of their earlier gain...