Shares of industrial and transportation companies fell.
Stocks have broadly pulled back this month amid concerns that rising cases of the Delta variant of Covid-19 could weigh on economic activity and that stocks have rallied for too long without a correction.
"I'm hearing more and more calls for a correction in the market," said Jack Janasiewicz, a portfolio manager at Natixis Investment Managers Solutions.
Boeing forecast it will take another two years for the hardest-hit regional and long-haul air travel slowed by the coronavirus pandemic to return to precrisis levels. However, the aerospace company said it had become more bullish about the pace of recovery currently driven by domestic travel in the U.S. and China, even after a recent slowdown caused by the Delta variant.
General Electric CEO Larry Culp backed expectations for $3.5 billion to $5 billion in cash flow this year and stressed that the sale of its plane leasing business will close before year end, allowing for more deleveraging.
Write to Amy Pessetto at email@example.com
(END) Dow Jones Newswires