Boeing Co. shares fell more than 4% on Thursday after U.S. President Donald Trump disclosed a smaller-than-anticipated aircraft deal with China during his state visit to Beijing.
In an interview with Fox News, Trump said Chinese President Xi Jinping had agreed to buy 200 Boeing aircraft, which he described as “200 big ones.” He did not specify which Chinese airlines would take the jets, which models were involved, or the delivery timeline.
The figure appeared to undercut earlier expectations in financial markets and media reports that had pointed to a potential package of up to 500 Boeing 737 MAX aircraft, possibly supplemented by additional 787 Dreamliner and 777X widebody orders. Those higher estimates had helped fuel optimism about a major commercial breakthrough during Trump’s trip.
By Thursday afternoon, Boeing’s stock was down about 4.2%, heading for its steepest one-day percentage decline in six months and its lowest close in two weeks, as investors reassessed the likely scale of new Chinese business. As of Friday, neither the U.S. or Chinese governments nor Boeing had issued a formal announcement detailing the proposed aircraft order.