Shares of industrial and transportation companies fell amid recession fears.
Boeing shares dropped about 6% after the company agreed to pay $200 million to settle a Securities and Exchange Commission investigation into allegations that the plane maker and its former chief executive made misleading statements about the 737 MAX's safety risks after two of the jets crashed.
Dennis Muilenburg, Boeing's former CEO, agreed to pay $1 million to settle the SEC's claims, the agency said on Thursday.
Both the company and Mr. Muilenburg resolved the investigation without admitting or denying wrongdoing. Airbus, meanwhile, backed its delivery targets despite the challenges it faces in its supply chain, and said it was committed to growing shareholder returns.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
09-23-22 1643ET
