Shares of industrial and transportation companies fell as Boeing suffered another setback.

The U.S. Justice Department is opening a criminal investigation into the Alaska Air flight during which a door-sized hole opened up on a Boeing plane midflight, The Wall Street Journal reported.

Separately, roughly 50 people were treated by first responders after a Boeing 787 Dreamliner, operated by Latam Airlines, experienced what the airline called a technical event when traveling from Sydney to Auckland.

"You think about spring break...you think about travel, you think about a lot of folks using airplanes," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management. "You start thinking about what a big exporter Boeing is for our country, and there's a little more attention paid to them as they kind of go through these hiccups."

Dongfeng Motor's shares slumped after the Chinese automaker warned it would likely book a loss for 2023 amid intensifying competition.

The Australian government has announced it will abolish close to 500 "nuisance" tariffs from July 1, reducing the cost of importing everything from toothbrushes to roller coasters.

President Biden's proposed budget would boost federal spending to $7.3 trillion next fiscal year and raise taxes on wealthy people and large corporations, in an attempt to cut the deficit while also lowering the costs of prescription drugs, child care and housing.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

03-11-24 1657ET