REUTERS: A plunge in the shares of the world's largest planemaker after a fatal crash in Ethiopia set the Dow Jones Industrial index for a sharp fall at the open on Monday and capped gains in the broader markets.
"Boeing without any question is going to be the theme for the Dow index today, given its enormous weighting, but I don't see a spillover to any other indexes except airlines," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. This comes on the heels of data from last week that showed U.S. employment growth almost stalled in February, which added to global growth fears fanned by a sharp fall in China's exports and as the European Central Bank slashed growth forecasts for the region.The S&P 500 index ended the week 2.2 percent lower, its biggest weekly decline since the market tumbled at the end of 2018, weighed by concerns of a slowing economy.
Apple Inc rose 1.8 percent after Bank of America Merrill Lynch upgraded the iPhone maker's shares to"buy" from"neutral" saying the pull back in its stock presented a buying opportunity.
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