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Stock Market Pain Is Boeing's Gain After Trump Blames Iran for Crash, Crypto Coins News

Stock Market Pain Is Boeing's Gain After Trump Blames Iran for Crash, Crypto Coins News


  • US officials now believe an Iranian missile caused flight to crash on Wednesday, killing all 176 people on board.
  • Boeing stock (NYSE: BA) rose Thursday on early morning speculation that Iran was behind the devastating plane crash.
  • After news of official backing for the theory, including from Trump, reached markets, the Dow and S&P retreated from earlier gains.
  • When Ukrainian International Airlines Flight crashed Wednesday,it was attributed to a mechanical issuewith the Boeing plane.

    Given the timing of the US-Iran conflict, this would have been an amazing coincidence. But it was sadly plausible.

    It would be the third (crash afterBoeing’s two high profile disasters over the past two years.

    It says a lot aboutinvestor confidence in Boeingthat markets gave as much credence to a Boeing mechanical failure as Iranian retaliation at first.

    US Officials Say Iran Shot Down Boeing Airliner

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    ********** Source:Twitter

    ABC News reported that Pentagon officials think it’s “highly likely” Iran. shot down the plane. They say Iran targeted the Ukrainian airliner with radar and fired two surface-to-air missiles.

    At a White House press event, Donald Trump backed the new explanation for the crash. He said he doesn’t “even think that’s a question” that a mechanical error was not the cause.

    Iranian refusal to give Boeing or the US Flight 1130 ‘s black boxmakes the government appear even more suspicious.

    The president left room forcontinued de-escalation with Iranin his comments.He said a missile attack might have been a mistake:

    It was flying in a pretty rough neighborhood. Someone could have made a mistake. I have a feeling that – it’s just some very terrible, something very terrible happened, very devastating.

    But the stock market may have just priced in the risk of further escalation.

    Stock Market React to Latest Iran Developments

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    The Dow dipped minutes afterCNBC reported the president’s Ukrainian Airlines crash at 11: 481 am EST. | Source:Yahoo Finance(****************** Speculation that Iran brought down the airliner began to spread early Thursday morning. At 2: 481 am EST, Bloomberg reported that a former FAA accident investigation chief said

    :

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    Airplanes don’t just catch fire and have that fire spread like that in such a short period of time, Unless there was an intentional act causing that fire and explosion.

    Boeing shares rose

    After Iran invoked international law to keep the black boxes, and Ukrainian officials pointed to the possibility of missile debris recovered at the crash site.

    But immediately after President Trump confirmed US officials’ suspicions of foul play, stock market benchmarks dipped over new uncertainty about rising Iran tensions.

    (this article was edited by siah Wilmoth************************************ (Last modified: January 9,
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