Boeing Co BA shares are trading lower after the close on Thursday following reportsthe planemaker will halt deliveries of its 787 Dreamliners.
What Happened: According to a CNBC report citing theFederal Aviation Administration (FAA), Boeing will temporarily stop deliveries of the 787s to perform additional testing on a fuselage component.
The report indicatesBoeingwont be able to resume deliveries until the companycan show the FAA ithas completely solved the issue.
The full statement from the FAA reads as follows:
"Boeing temporarily halted deliveries of 787 Dreamliners after notifying the FAA that it is conducting additional analysis on a fuselage component. Deliveries will not resume until the FAA is satisfied that the issue has been addressed. The FAA is working with Boeing to determine any actions that might be required for recently delivered airplanes."
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BA Price Action: Boeing has a 52-week high of $221.33 and a 52-week low of $113.02.
The stock was down 2.61% at $202.70after market close, according toBenzinga Pro.
Silicon Valley executives and financiers publicly opened their wallets in support of President Donald Trump’s 2024 presidential run. The early returns in 2025 aren’t great, to say the least.
Following Trump’s sweeping tariff plan announced Wednesday, the Nasdaq suffered steep consecutive daily drops to finish 10% lower for the week, the index’s worst performance since the beginning of the Covid pandemic in 2020.
The tech industry’s leading CEO’s rushed to contribute to Trump’s inauguration in January and paraded to Washington, D.C., for the event. Since then, it’s been a slog.
The market can always turn around, but economists and investors aren’t optimistic, and concerns are building of a potential recession. The seven most valuable U.S. tech companies lost a combined $1.8 trillion in market cap in two days.
Apple slid 14% for the week, its biggest drop in more than five years. Tesla, led by top Trump adviser Elon Musk, plunged 9.2% and is now down more than 40% for the year. Musk contributed close to $300 million to help propel Trump back to the White House.
Nvidia, Meta and Amazon all suffered double-digit drops for the week. For Amazon, a ninth straight weekly decline marks its longest such losing streak since 2008.
With Wall Street selling out of risky assets on concern that widespread tariff hikes will punish the U.S. and global economy, the fallout has drifted down to the IPO market. Online lender Klarna and ticketing marketplace StubHub delayed their IPOs due to market turbulence, just weeks after filing with the Securities and Exchange Commission, and fintech company Chime is also reportedly delaying its listing.
CoreWeave, a provider of artificial intelligence infrastructure, last week became the first venture-backed company to raise more than $1 billion in a U.S. IPO since 2021. But the company slashed its offering, and trading has been very volatile in its opening days on the market. The stock plunged 12% on Friday, leaving it 17% above its offer price but below the bottom of its initial range.
“You couldn’t create a worse market and macro environment to go public,” said Phil Haslett, co-founder of EquityZen, a platform for investing in private companies. “Way too much turbulence. All flights are grounded until further notice.”
CoreWeave investor Mark Klein of SuRo Capital previously told CNBC that the company could be the first in an “IPO parade.” Now he’s backtracking.
“It appears that the IPO parade has been temporarily halted,” Klein told CNBC by email on Friday. “The current tariff situation has prompted these companies to pause and assess its impact.”
‘Cave rapidly’
During last year’s presidential campaign, prominent venture capitalists like Marc Andreessen backed Trump, expecting that his administration would usher in a boom and eliminate some of the hurdles to startup growth set up by the Biden administration. Andreessen and his partner, Ben Horowitz, said in July that their financial support of the Trump campaign was due to what they called a better “little tech agenda.”
A spokesperson for Andreessen Horowitz declined to comment.
Some techies who supported Trump in the campaign have taken to social media to defend their positions.
Venture capitalist Keith Rabois, a managing director at Khosla Ventures, posted on X on Thursday that “Trump Derangement Syndrome has morphed into Tariff Derangement Syndrome.” He said tariffs aren’t inflationary, are effective at reducing fentanyl imports, and he expects that “most other countries will cave and cave rapidly.”
That was before China’s Finance Ministry said on Friday that it will impose a 34% tariff on all goods imported from the U.S. starting on April 10.
At Sequoia Capital, which is the biggest investor in Klarna, outspoken Trump supporter Shaun Maguire, wrote on X, “The first long-term thinking President of my lifetime,” and said in a separate post that, “The price of stocks says almost nothing about the long term health of an economy.”
However, Allianz Chief Economic Advisor Mohamed El-Erian warned on Friday that Trump’s extensive raft of import tariffs are putting the U.S. economy at risk of recession.
“You’ve had a major repricing of growth prospects, with a recession in the U.S. going up to 50% probability, you’ve seen an increase in inflation expectations, up to 3.5%,” he told CNBC’s Silvia Amaro on the sidelines of the Ambrosetti Forum in Cernobbio, Italy.
Former Microsoft CEOs Bill Gates, left, and Steve Ballmer, center, pose for photos with CEO Satya Nadella during an event celebrating the 50th Anniversary of Microsoft on April 4, 2025 in Redmond, Washington.
Stephen Brashear | Getty Images
Meanwhile, executives at tech’s megacap companies were largely silent this week, and their public relations representatives declined to provide comments about their thinking.
Microsoft CEO Satya Nadella was in the awkward position on Friday of celebrating his company’s 50th anniversary at corporate headquarters in Redmond, Washington. Alongside Microsoft’s prior two CEOs, Bill Gates and Steve Ballmer, Nadella sat down with CNBC’s Andrew Ross Sorkin for a televised interview that was planned well before Trump’s tariff announcement.
When asked about the tariffs at the top of the interview, Nadella effectively dodged the question and avoided expressing his views about whether the new policies will hamper Microsoft’s business.
Ballmer, who was succeeded by Nadella in 2014, acknowledged to Sorkin that “disruption is very hard on people” and that, “as a Microsoft shareholder, this kind of thing is not good.” Ballmer and Gates are two of the 12 wealthiest people in the world thanks to their Microsoft fortunes.
C-suites may not be able to stay quiet for long, especially if the recent turmoil spills into next week.
Lise Buyer, who previously helped guide Google through its IPO and now works as an adviser to companies going public, said there’s no appetite for risk in the market under these conditions. But there is risk that staffers get jittery, and they’ll surely look to their leaders for some reassurance.
“Until markets settle out and we have the opportunity to access valuation levels, public company CEOs should work to calm potentially distressed employees,” Buyer said in an email. “And private company managements should refine plans to get by on dollars already in the treasury.”
— CNBC’s Hayden Field, Jordan Novet, Leslie Picker, Annie Palmer and Samantha Subin contributed to this report.
Jaguar Land Rover (JLR) has said it will “pause” shipments to the US as the British car firm works to “address the new trading terms” of Donald Trump’s tariffs.
The US president has introduced a 25% levy on all foreign cars imported into the country, which came into force on Thursday.
JLR, one of the country’s biggest carmakers, exported about 38,000 cars to the US in the third quarter of 2024 – almost equal to the amount sold to the UK and the EU combined.
In a statement on Saturday, a spokesperson for the company behind the Jaguar, Land Rover and Range Rover brands said: “The USA is an important market for JLR’s luxury brands.
“As we work to address the new trading terms with our business partners, we are taking some short-term actions including a shipment pause in April, as we develop our mid- to longer-term plans.”
The company released a statement last week before Mr Trump announced a “baseline” 10% tariff on goods from around the world, which kicked in on Saturday morning, on what he called “liberation day”.
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JLR reassured customers its business was “resilient” and “accustomed to changing market conditions”.
“Our priorities now are delivering for our clients around the world and addressing these new US trading terms,” the firm said.
Trading across the world has been hit by Mr Trump’s tariff announcement at the White House on Wednesday.
All but one stock on the FTSE 100 fell on Friday – with Rolls-Royce, banks and miners among those to suffer the sharpest losses.
Cars are the top product exported from the UK to the US, with exports worth £8.3bn in the year to the end of September 2024, according to data from the Office for National Statistics.
For UK carmakers, the US is the second largest export market behind the European Union.
Industry groups have previously warned the tariffs will force firms to rethink where they trade, while a report by thinktank the Institute for Public Policy Research said more than 25,000 car manufacturing jobs in the UK could be at risk.
Two people have died following a fire at a caravan site near Skegness, Lincolnshire Police have said.
In a statement, officers said they were called at 3.53am on Saturday to a report of a blaze at Golden Beach Holiday Park in the village of Ingoldmells.
Fire and rescue crews attended the scene, and two people were found to have died.
They were reported to be a 10-year-old girl and a 48-year-old man.
The force said the victims’ next of kin have been informed and will be supported by specially trained officers.
Officers are trying to establish the exact cause of the blaze.
“We are at the very early stages of our investigation and as such we are keeping an open mind,” the force said.