United stock plummets after viral video of passenger being dragged off overbooked plane sparks outrage
United Continental Holdings Inc.'s stock took a nosedive Tuesday morning as the outrage continued over United Airlines' handling of an overbooked plane Sunday evening. In a video that went viral Monday, Chicago aviation security officers can be seen dragging a bloodied passenger off of an airplane after he refused to give up his seat to a United employee on stand-by.
Gizmodo reported the company's valuation had fallen "more than $750 million" as of Tuesday morning. The New York Stock Exchange showed United stock dipping by 3.55 percent:
As of Tuesday, the backlash over the situation had extended beyond the U.S., as United's CEO stood by the decision and said the airline had to "re-accommodate" the passenger because of the booking snafu. Chinese state media published angry editorials over United's treatment of the passenger, who appears to be of Asian descent, and calls for a boycott of the airline have arisen in the country.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The stock market appeared to be on shaky ground Tuesday in general, with the Dow down by about 120 points by late morning.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Can the UK avoid the Trump tariff bombshell?
Today's Big Question President says UK is 'way out of line' but it may still escape worst of US trade levies
By The Week UK Published
-
Beyoncé's record-breaking night at the Grammys
Talking Point Long-denied Album of the Year win rights a 'historic sense of grievance'
By Rebekah Evans, The Week UK Published
-
Crossword: February 3, 2025
The Week's daily crossword
By The Week Staff Published
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling
By Peter Weber, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published