Monster Bankruptcy Looming over Stock Market
(Tue, 12 May 2020). Dow Teeters Because One Monster Bankruptcy May Ignite Stock Market Crash. Boeing CEO predicts that at least one major U.S. airline will go bankrupt by the end of the year. That could have a devastating effect on the stock market.
The Dow Jones Industrial Average (DJIA) opened flat on Tuesday after a choppy futures session. Boeing’s CEO thinks at least one major airline will go bust this year, which could have a ripple effect on the stock market. Traders remain cautious as coronavirus cases tick higher in re-open states. Stock futures spent most of the overnight session in decline, but the Dow Jones Industrial Average (DJIA) flopped sideways when the market finally opened.
The index may be struggling because there’s a big threat on the horizon: bankruptcies. Boeing CEO David Calhoun just sent a warning sign to the market, suggesting at least one major airline could go bust this year.
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