Boeing Co. halted shares trading Tuesday, following a 6 percent drop in share value. The drop was caused by reports that regulators would not consider approving flight of the 737MAX until July. The planes have been grounded since March of 2019.
Trading reopened after the Federal Aviation Administration confirmed the news.
According to the FAA, "The agency is following a thorough, deliberate process to verify that all proposed modifications to the Boeing 737 Max meet the highest certification standards. We have set no time frame for when the work will be completed."
Overall airline stocks, as well as other travel-related stocks, were weakened after it was reported that the Asian Coronavirus had been reported in Washington state.