President Donald Trump said the government is considering aiding Boeing, which was already struggling with the fallout from two deadly crashes involving its 737 Max jetliner and now faces reduced airline demand for new planes because of the virus outbreak.
“We’re certainly looking at Boeing,” he said during a White House press conference. “Boeing got hit very hard in many different ways.”
Trump said Boeing’s plunge was unthinkable. “I would consider it the greatest company in the world prior to a year ago. Now they get hit in 15 different ways.”
A Boeing spokesman said the company is seeking federal help for itself and suppliers but declined to give details.
Boeing’s stock has now lost more than two-thirds of its value since hitting a record high of $440.62 just over a year ago. That works out to a loss of $175 billion as of late Monday. Boeing fell another 3% to $125 Tuesday afternoon, holding back gains in the Dow Jones Industrial Average.