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Dow gives back Friday rally after Boeing delay
The FAA said it will not certify the 737 Max 10 until it assesses a newly flagged software issue, with Boeing closing nearly 7% lower.
A software issue tied to Boeing caused the Dow Jones Industrial Average to unwind Friday's gains, leaving the index just under 51,500 at the close on Monday, according to FXStreet.
The Federal Aviation Administration said it will not certify the 737 Max 10 until it assesses a newly flagged software problem. Boeing closed nearly 7% lower, after previously expecting approval within weeks, the outlet reported.
FXStreet added that the delay affects new deliveries rather than planes already flying, because US airlines have reverted to older software where needed. The news also comes as Treasury yields climb again and upcoming inflation and jobs data are expected to shape expectations for whether the Federal Reserve follows the move in October.
Latest closeDow Jones 51,828.62 ▲0.9%