US stocks slide as Boeing shares drop following South Korea crash

U.S. stocks fell in early trading Monday as traders sought to lock in profits. Boeing shares dropped following a deadly plane crash in South Korea.

South Korean authorities ordered a “comprehensive inspection” of all Boeing 737-800 aircraft operated by the country’s carriers after a Jeju Air plane crash-landed and burst into flames on Sunday, killing 179 people aboard.

Shortly after markets opened, the Dow Jones Industrial Average dropped 1.1% to 42,507.31. The S&P 500 lost 1.2%, falling to 5,899.43. The Nasdaq Composite dropped 1.4%, settling at 19,448.57.

“We’re seeing some profit-taking at the end of a very strong year,” said Adam Sarhan, CEO of 50 Park Investments. “There are only two trading days left in the year, and a lot of selling in tech stocks.”

Boeing shares fell 4.9% in early trading.

“You have a situation where we have another crash and it was a Boeing jet,” Sarhan said. “But if it turns out to be a one-off, it won’t be a problem for the company.”