- 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.
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