US stocks pulled back from recent highs on Monday as investors digested the news that Boeing’s chief executive is stepping down following a series of safety incidents and manufacturing issues.
Dave Calhoun will leave his position running the US aviation giant at the end of the year, the company said in a statement.
His departure follows a string of recent problems, including a near-catastrophic incident in January when a fuselage panel on a Boeing 737 MAX 9 Alaska Airlines jet blew off mid-flight.
Shortly after markets opened, the Dow Jones Industrial Average was trading down 0.2 percent at 39,402.78, while the S&P 500 was down by the same amount at 5,222.36.
The tech-rich Nasdaq composite fell by 0.4 percent to 16,359.08.
The lower open reflects “some normal consolidation after another winning week for the major indices,” Briefing.com’s Patrick O’Hare wrote in a blog post Monday morning.
News of Calhoun’s departure pushed Boeing’s share price 1.4 percent higher in early trading.
