Boeing shares declined by 9 percent in pre-market trading on Monday after the crash of one of its popular 737 Max 8 jets in Ethiopia sparked safety concerns, Bloomberg reports. Ethiopian Airlines on Monday said it was grounding its fleet of new planes after one of them crashed Sunday shortly after takeoff, killing all 157 people on board. China's civilian aviation authority also ordered Chinese airlines to temporarily ground their 96 Max 8s following the crash, the second involving one of the Boeing planes in five months; a Lion Air flight crashed in the Java Sea in late October, killing all 189 people on board. The plane was leaving Addis Ababa, Ethiopia's capital, for Nairobi, Kenya. The cause of Sunday's crash is under investigation.
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