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.
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The stock market appeared to be on shaky ground Tuesday in general, with the Dow down by about 120 points by late morning.
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