The Boeing logo appears above a trading post on the floor of the New York Stock Exchange before the opening bell, Monday, March 11, 2019.
The Boeing logo appears above a trading post on the floor of the New York Stock Exchange before the opening bell, Monday, March 11, 2019.

Aircraft giant Boeing's shares dropped nearly 12 percent shortly after markets opened Monday, a day after an Ethiopian Airlines jet crashed, killing all 157 people on board.

The Dow Jones Industrial Index sharply dropped as a result early Monday, capping gains in the broader markets.

Rescuers remove body bags from the scene of an Ethiopian Airlines flight that crashed shortly after takeoff at Hejere near Bishoftu, or Debre Zeit, some 50 kilometers (31 miles) south of Addis Ababa, in Ethiopia Sunday, March 10, 2019.
Ethiopian Airline Flight Crashes, Killing 157
The state-run Ethiopia Broadcasting Corporation said the flight that went down near the city of Bishoftu carried passengers from 33 countries

Airlines in China, Indonesia, and Ethiopia grounded all Boeing 737 MAX 8 airplanes after that model crashed on Sunday on its way to Nairobi. The Boeing 737-MAX 8 is also the same model that took off in October from Jakarta and crashed into the Java Sea a few minutes later, killing all 189 people onboard a Lion Air flight.

Boeing released a statement shortly after Sunday's crash expressing its "heartfelt sympathies" to the friends and families of victims.

"A Boeing technical team will be traveling to the crash site to provide technical assistance under the direction of the Ethiopia Accident Investigation Bureau and U.S. National Transportation Safety Board," it read.

Boeing has not publicly addressed concerns about the 737 MAX 8 model or the grounding of its planes in three countries.