Boeing and Malaysian Airlines shares take a hit

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Boeing and Malaysian Airlines shares take a hit

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Shares in Boeing, the world’s biggest aircraft manufacturer, fell to the lowest in more than a month at one time on Monday after one of its 777-200s disappeared with more than 239 passengers and crew onboard.

The US planemaker’s shares were down 1.3 percent in New York as the market closed.

In addition Boeing had said late Friday that “hairline cracks” had been discovered in the wings of about 40 787 Dreamliners that are in production, another setback for the company’s newest jet.

In Kuala Lumper shares of Malaysia Airlines fell 18 percent at one stage, to a record low, as the whereabouts of the missing airlines continued to baffle investigators. The stock was down 4.0 percent at the close.

China Southern, which operated the missing Flight 370 ona code share basis, saw its shares lose more than 3.0 percent on Monday.

Shares of Freescale Semiconductor also slid 1.3 percent in New York. Twenty Freescale employees were on the missing Malaysian plane, mostly engineers and other experts working to make the company’s chip facilities in Tianjin, China, and Kuala Lumpur more efficient, said Mitch Haws, vice president, global communications and investor relations.