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