Why Boeing Stock Was Down More Than 5% Today
Shares of aerospace giant Boeing (NYSE: BA) are among the highest-profile victims of today's sell-off on the latest escalation of Russia's moves against Ukraine. As of 2:05 p.m. ET Tuesday, Boeing stock was down 5.2%, roughly three times the loss of the S&P 500 as a whole.
Why would a full-scale Russian invasion of Ukraine be bad news for Boeing?
For one thing, it could interrupt supplies of Russian titanium that Boeing needs to build its airplanes. Judging from past comments by the company, Boeing spends roughly $9 billion every 10 years on Russian titanium.
Source Fool.com