Ethiopian Airline crash: Boeing stock tumbles day after 737 Max 8 crash

ADDIS ABABA, Ethiopia -- Boeing's stock plunged 7 percent Monday as aviation authorities in China, Indonesia and Ethiopia ordered airlines to ground their Boeing 737 Max 8 planes the day after one crashed in Ethiopia, killing all 157 people on board.

The crash of the Ethiopian Airlines jet shortly after it took off from Addis Ababa on Sunday is drawing renewed scrutiny of the plane just four months after a similar crash of the same model that killed 189 people in Indonesia.

FULL STORY: Investigation underway after Boeing 737 Max 8 crashes, kills 157 in Ethiopia

"Safety is our number one priority and we are taking every measure to fully understand all aspects of this accident, working closely with the investigating team and all regulatory authorities involved," the company said in a statement.

Boeing's stock fell to $391.80 in afternoon trading.