Boeing shares plummet after new U.S. travel restrictions

CHICAGO (Reuters) – Shares in Boeing Co dropped more than 16% on Thursday on increased concerns over a fallout from news of sweeping U.S. travel restrictions on Europe meant to curb the spread of coronavirus.

The 30-day travel restrictions, announced by U.S. President Donald Trump on Wednesday, are expected to deepen the financial misery for airlines, which are Boeing’s main customers.

(Reporting by Tracy Rucinski; Editing by Marguerita Choy)