Shares of Boeing Co. BA, -1.48% dropped 3.7% in premarket trading Monday, enough to pace the Dow Jones Industrial Average’s DJIA, -0.29% decliners ahead of the open, after a Boeing 737-500 jet operated by Sriwijaya Air, carrying 62 people, crashed over the weekend. The stock’s implied price decline would shave about 51 points off the Dow’s price, while Dow futures YM00, 0.14% shed 308 points, or 1.0%.
An investigation into the cause of the crash is ongoing, and authorities investigating the crash said they have detected signals from the jet’s black boxes containing the cockpit voice and flight data recorders, according to an Associated Press report.