Ticker: Boeing tells airlines to check pilot seats after report that an accidental shift led plane to plunge; Wall Street slips further away from records amid inflation worries

Boeing is telling airlines to inspect switches on pilots’ seats in its 787 Dreamliner jets after a published report said an accidental cockpit seat movement likely caused the sudden plunge of a LATAM Airlines plane flying to New Zealand.

Boeing said Friday it recommended that airlines inspect the motorized cockpit seats the next time they perform maintenance on their 787s. The aircraft manufacturer pointed to instructions that include how to disable motors that move the seats.

The company described its advisory as a “precautionary measure.”

The Federal Aviation Administration said, however, that the Boeing memo was issued “in response to the incident on LATAM Flight 800.” The FAA said it was convening a panel of experts to review Boeing’s message to airlines.

Wall Street slips further away from records amid inflation worries

Wall Street closed out its second straight losing week Friday, giving back some of the gains that helped push the stock market to an all-time high earlier in the week.

The S&P 500 fell 0.6%, its third straight loss. The benchmark index hit a record high on Tuesday, but mostly wavered in the days that followed.

The Dow Jones Industrial Average fell 0.5%, while the Nasdaq composite ended 1% lower.

Technology stocks were the biggest weights on the market. Software maker Adobe slumped 13.7% after giving investors a weak revenue forecast. Microsoft fell 2.1% and Broadcom lost 2.1%.

 

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